Deutsche Bank analyst Daniel Ghali stated that the copper market is shifting from a demand-driven logic to a supply liquidity crisis as global available copper inventories fall to unprecedented lows. He expects copper prices to rise to $22,050 per metric ton by Q2 2027, more than 50% higher than Monday's London Metal Exchange (LME) price of $14,458.50. The bank believes the current copper market is struggling under multiple pressures, including ongoing stockpiling in the US, restocking demand, disruptions to refined copper supply, and a tightening global supply-demand balance. Deutsche Bank projects the average copper price to reach $20,900 per metric ton in 2027, before falling back to an average of $18,500 in 2028.