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Goldman Sachs: Copper Prices May Fall If Hormuz Blocked

4/7/2026

45 5 Full Breakdown

Summary

Story summary

Goldman Sachs Group, Inc. warns copper prices could decline further if the Strait of Hormuz remains blocked.
The firm notes copper trades above its fair value of $11,100 per tonne.
U.S. President Donald Trump has set a deadline for Iran to reach agreement.
Prices have fallen 7% since recent U.S. and Israeli attacks on Iran.
Goldman revised its yearly copper price forecast to $12,650 per tonne from $12,850.

History

Historical Context

The Iran-Iraq War, which began in 1980, severely disrupted oil shipments through the Strait of Hormuz, causing global oil prices to surge by 50%. This historical precedent highlights the vulnerability of global markets to geopolitical tensions. Currently, ongoing conflicts have led Goldman Sachs to warn of potential declines in copper prices, emphasizing the need for strategic responses to such crises affecting vital trade routes.

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Story summary

Goldman Sachs Group, Inc. warns copper prices could decline further if the Strait of Hormuz remains blocked.
The firm notes copper trades above its fair value of $11,100 per tonne.
U.S. President Donald Trump has set a deadline for Iran to reach agreement.
Prices have fallen 7% since recent U.S. and Israeli attacks on Iran.
Goldman revised its yearly copper price forecast to $12,650 per tonne from $12,850.

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