Copper prices to soar to $15,000/ton amid US hoarding, AI demand

• Copper prices are predicted to reach "stratospheric new highs" by 2026, with Citi forecasting up to $15,000 per ton.
• The surge is driven by rising demand from energy transition and AI sectors, supply disruptions, and US hoarding.
• US "hoarding" of copper is creating an "irregular distortion" in the market and limiting international availability.
• Analysts project significant copper deficits due to constrained mine supply, further fueling price increases.
• Spot copper prices recently hit $11,816 per ton on the London Metals Exchange.

Why It Matters: Predicted copper price surge could significantly affect industries and global economy.