Commerzbank Revises Base Metals Price Forecasts

Reuters
2025.11.11 11:02
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Commerzbank has revised its base metals price forecasts, raising the year-end copper price from $9,600 to $10,500 per ton, aluminum from $2,600 to $2,900 per ton, and zinc from $2,800 to $3,000 per ton. The nickel price forecast has been lowered from $16,000 to $15,000 per ton. Additionally, Commerzbank expects gold to reach $4,200 per troy ounce, silver at $50, platinum at $1,700, and palladium at $1,400 in the coming year. Brent oil is expected to trade at $60 per barrel and WTI oil at $57 per barrel in 2026.

Nov 11 (Reuters) - COMMERZBANK:

  • RAISES YEAR-END COPPER PRICE FORECAST FROM $9,600 TO $10,500 PER TON
  • REVISES FORECAST FOR ALUMINUM UPWARD TO $2,900 PER TON (PREVIOUSLY $2,600) AND FOR ZINC TO $3,000 PER TON (PREVIOUSLY $2,800)
  • LOWERES NICKEL PRICE FORECAST FROM $16,000 PER TON TO $15,000 PER TON
  • SAYS “WE EXPECT GOLD TO REACH $4,200 PER TROY OUNCE IN THE COMING YEAR”
  • SEES SILVER TO TRADE AT $50 PER TROY OUNCE, PLATINUM AT $1,700 PER TROY OUNCE, PALLADIUM AT $1,400 IN THE COMING YEAR
  • EXPECTS BRENT OIL TO TRADE AT $60 PER BARREL IN 2026
  • EXPECTS WTI OIL TO TRADE AT $57 PER BARREL IN 2026
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