Jefferies: "Turns Out, We Weren't Bullish Enough On Copper"
Jefferies: "Turns Out, We Weren't Bullish Enough On Copper" "Turns out, we weren't bullish enough on copper," Jefferies analyst Christopher LaFemina wrote in a note to clients, marking a notable shift from one of Wall Street's most seasoned metal voices. LaFemina joined Jefferies in 2011 after more than a decade covering metals and mining at Lehman Brothers and Barclays, lending weight to his view that the explosive growth in AI data center buildouts, power grid and infrastructure upgrades (a theme he calls "powering up America"), and tight supply are creating structurally higher prices for copper. LaFemina raised his 2030 target and now expects copper to average $8 per pound, or $17,636 a ton. COMEX copper last traded around $6.34 a pound, while LME copper was near $13,583 a ton. On a longer timeframe, the LME copper chart suggests the $10,000 level was the breakout zone, further supporting LaFemina's 2030 target given the current supply-tightening backdrop. "Turns out, we weren't bullish enough on copper," LaFemina said, adding, "We now have the highest copper
Key takeaway
"Jefferies: "Turns Out, We Weren't Bullish Enough On Copper" " — BullBear's AI rates this story as a mixed, direction-neutral signal, with a market-impact score of 0 out of 100. Jefferies: "Turns Out, We Weren't Bullish Enough On Copper" "Turns out, we weren't bullish enough on copper," Jefferies analyst Christopher LaFemina wrote in a note to clients, marking a notable shift from one of Wall Street's most seasoned metal voices. LaFemina joined Jefferies in 2011 after more than a decade covering metals and mining at Lehman Brothers and Barclays, lending weight to his view that the explosive growth in AI data center buildouts, power grid and infrastructure upgrades (a theme he calls "powering up America"), and tight supply are creating structurally higher prices for copper. LaFemina raised his 2030 target and now expects copper to average $8 per pound, or $17,636 a ton. COMEX copper last traded around $6.34 a pound, while LME copper was near $13,583 a ton. On a longer timeframe, the LME copper chart suggests the $10,000 level was the breakout zone, further supporting LaFemina's 2030 target given the current supply-tightening backdrop. "Turns out, we weren't bullish enough on copper," LaFemina said, adding, "We now have the highest copper That score reflects how strongly the story is likely to move Bitcoin, US equities, the dollar, and gold, and near-duplicate coverage of the same event is clustered so only the representative article is scored. BullBear analyzes hundreds of market stories a day this way, turning each into a structured bullish, bearish, or mixed read rather than a raw headline, so the signal can be compared across sources and over time. Reported by ZeroHedge on June 09, 2026. The bullish and bearish evidence behind this assessment, plus a 24-hour price-move check that verifies the call against what actually happened, are all tracked publicly on BullBear.news.
Get the next 8/10 catalyst
Telegram alerts when our AI scores a story 8+/10 (~1-3 per day, no spam). Verified 30d hit rate 58.3%.
