Oct. 9 at 4:27 AM
$TGB $GCUMF
The copper market in October 2025 is vibrant, with prices at
$5.07/lb (up 17% YTD), driven by supply disruptions (e.g., Grasberg’s 600kt shortfall) and demand from AI, EVs, and renewables. X posts pulse with “supercycle” excitement, and ETF inflows hit
$2.3B, spotlighting stocks like Taseko Mines (TCK) and Gunnison Copper (GCU). The enthusiasm is justified: demand grows 2.6% annually to 35.1Mt by 2034, outstripping supply (2.2%), with deficits of 180–300kt in 2025, potentially reaching 4.7Mt by 2034. U.S. tariffs and China stimulus bolster prices. Momentum could surge through 2026–2027, with forecasts of
$9,500–12,000/t (
$4.30–5.44/lb, +5–20%). Copper-linked stocks (beta 1.5–2.0x) may gain 15–30% by mid-2026, with bulls pushing 35–60%. Taseko’s Florence (38,500 t/year, starting Q4 2025) and Gunnison’s projects (JCM producing, main ~83,700 t/year by 2028) amplify U.S. supply. Taseko and Gunnison’s low-cost profiles enhance their leverage to this rally.