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$XAU UBS expects the copper deficit to widen in 2027 and supports long positions
UBS (UBS) maintains its positive outlook for copper, expecting the market deficit to widen from 219,000 metric tons in 2026 to 379,000 metric tons in 2027.

The bank expects this growing supply deficit to push prices toward $15,500.00 per metric ton in 2027.

UBS continues to recommend long positions in copper, noting that any near-term weakness in prices should be seen as a buying opportunity.

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