RBC Capital Markets: Raises 2026 aluminum price forecast to $1.50 per pound
March 16, 2026
On March 12th, RBC Capital Markets stated in a report that it has raised its 2026 copper price forecast to $5.88 per pound. It predicts that the average copper price in the first half of the year will be $6.00 per pound, and the average price in the second half of the year will be $5.75 per pound. It also expects that the copper market supply in the second half of the year will tend to return to a normal level.
The institution has also raised its copper price forecast for 2027-2029 to $6.00 per pound, expecting increased demand in areas such as electrification, infrastructure, defense, and potential artificial intelligence applications.
The institution has raised its forecast for aluminum prices in 2026 to $1.50 per pound and has increased its forecast for 2027-2028 by 7% to $1.44 per pound. This is because it anticipates that China's aluminum smelting capacity will reach its peak and the market supply gap will continue to widen.
