# Goldman Sachs warns copper may fall further as Iran tensions and blocked Strait of Hormuz hit metals, cuts 2024 copper forecast to 12650 dollars per tonne from.

*business · news · 2026-04-07 · CNBC TV18*

## Key points

- Goldman Sachs cut its 2024 copper price forecast to $12,650 per tonne from $12,850.
- Copper is trading significantly above its estimated fair value of about $11,100 per tonne.
- Goldman warns copper may fall further if the Strait of Hormuz remains blocked.
- Copper prices have dropped nearly 7% since the recent strikes on Iran.

**Companies:** Goldman Sachs
**Countries:** Iran, United States

[Read the full story on CNBC TV18](https://www.cnbctv18.com/market/commodities/copper-could-be-under-further-pressure-as-iran-war-threatens-global-economy-says-goldman-sachs-ws-l-19881809.htm)

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