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2026-04-07 11:57:55
[Goldman Sachs: Downside Risk to Copper Prices Increases if Strait of Hormuz Blockade Continues] (1) Goldman Sachs warns that copper prices could fall further if the Strait of Hormuz remains blocked. The metals market is currently holding its breath awaiting the deadline set by President Trump—by which Iran must reach an agreement or face a full-scale attack on its civilian infrastructure. (2) Analysts, including Aurellia Waltham, point out that if the disruption to shipping through the strait lasts longer than the baseline scenario, the downside risk to copper prices will increase in the short term, as energy prices will remain high for a longer period and could slow global economic growth. (3) Goldman Sachs' baseline forecast is that the strait will reopen in mid-April. Analysts point out that copper prices are currently still well above their estimated fair value of approximately $11,100 per tonne.
