Copper Price Forecast: AI Boom and Tight Supply Keep $7 in Sight

Copper (XCU) consolidates near record highs after regaining $6.60 on Tuesday. The price is supported by the tight mine supply and an increase in investment in AI infrastructure and power grids. NVIDIA’s planned $500 billion financing could strengthen the long term demand but weak Chinese demand and project delays remain important risks. The technical structure remains bullish above $6 and points toward $7 in the short term. The copper to silver ratio also shows improving relative strength, but it requires a breakout above 0.107 to confirm further outperformance.