UBS Raises Copper Price Forecast to $13,200 per Tonne in 2026

UBS's increase in the 2026 copper price forecast to $13,200 may positively impact long-term expectations, but no direct price movement is expected in the short term (1-3 days). Technical indicators show a slight upward trend, with the 20-day SMA above the 50-day SMA and the MACD slightly below the signal line. The RSI is at 46, not in the overbought or oversold zone, which increases the likelihood of the price remaining at its current level. Therefore, investors may continue to see prices in the range of $6.3-$6.4 in the short term. In summary, although the news creates a positive sentiment, its impact on the market will be limited considering the technical signals and time frame.

UBS's upward revision of its copper price forecast could serve as a positive catalyst for Freeport-McMoRan (FCX). However, the stock closed 3.8% lower in the last session, with its RSI at 48.6, indicating a neutral zone. Although the MACD remains negative, it is approaching the signal line, which may signal a weak recovery. In the short term, some upward movement is expected due to the news, but sustaining above the 20-day SMA will be crucial.

UBS's upward revision of its copper price forecast serves as a positive catalyst for copper producers such as SCCO. Although the stock closed 2% lower in the last session, the RSI is near the 50 level and the MACD is above its signal line, indicating potential for a short-term recovery. The price is trading above the 20-day moving average, but remaining below the 50-day average may limit upside. A positive opening is expected tomorrow on the back of the news, though resistance levels may be tested.

UBS's upward revision of its copper price forecast could serve as a positive catalyst for mining companies such as BHP. Technically, the RSI stands at 46.8, indicating a neutral zone, while the MACD is above its signal line, signaling a bullish trend. Although the price closed above the 20-day moving average, it remains below the 50-day moving average. In the short term, this news may lead to a test of the $84 resistance level. However, as the overall trend has not yet fully reversed, the upside may remain limited.