Glencore upgraded as JP Morgan forecasts over 30% copper growth

Impact · against what's priced in

Glencore is positioned as a high-conviction play due to a significant forecasted increase in copper production and its structural hedges. Gelion gains material momentum through a strategic proof-of-concept agreement with a major automotive OEM.

GLEN+0.70

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In context

JP Morgan's forecast of copper production rising over 30% to 1.1 million tonnes by 2031 provides a concrete growth trajectory that supports a price target of £7.30.

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• geopolitics▲45%
• mining
• GELN
• GLEN
• aluminum
• analyst upgrade
• coal
• copper
• glencore
• metals