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Home/News Feed/Copper prices hold despite Middle East tensions but recession risks could drive prices down, says UBS.
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Copper prices hold despite Middle East tensions but recession risks could drive prices down, says UBS.

Market News
26 Mar 2026
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Copper prices have remained relatively stable despite the Middle East conflict and energy price surges, briefly dipping below $12,000 per metric ton before steadying. UBS warns that the metal's current price does not yet fully reflect the risk of weaker global demand due to a potential recession, which historically causes copper prices to fall 20-50%. The bank forecasts a supply deficit in 2026 supporting long-term price increases to $13,500 by mid-year and $15,000 by early 2027. UBS expects oil flow through the Strait of Hormuz to resume within weeks, but remains cautious in the near term due to ongoing regional uncertainty.

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