From Investing.com:

Copper prices remain strong at over $8,200/mt despite investor concerns in China. Revised down production guidance and a tightening market signal supply challenges, leading analysts at UBS to predict a persistent market deficit through 2024. UBS recommends seizing buying opportunities on dips and anticipates prices to surge to over $9,500/mt in late 2024.
Demand from China has offset weak demand from traditional sectors in the US and Europe. Global decarbonization efforts will drive electrical and transportation demand for copper, but construction and appliances sectors may face headwinds. UBS forecasts a global copper consumption increase of 3.3% in 2024, with prices projected to reach over $9,500/mt by late 2024.



Read more: UBS forecasts copper pricing amidst supply challenges By Investing.com