Goldman Sachs cuts copper price forecast: 3 mth target 6500/ton (from 7300)

Author: Eamonn Sheridan | Category: News

Copper is often seen as a bellwether for global markets  - Dr. Copper right?

GS cuts its price forecast
  • 3 month horizon  - now at $6500/ton from their prior at $7300
(Is GS just catching up with market movement? Its around its lowest in a year.  Anyway, back to GS report ... )

GS citing:
  • China credit tightening
  • Rising trade tensions

The two are the 'main drivers' for metals market at present says the bank

Further into the second half and 2019- expect China policy support will lift prices :

  • China will be wary of balancing its goal of financial deleveraging with its growth target, says GS, this will not be an easy task
  • GS says not expecting a full blown trade war
  • But significant uncertainties
  • No resolution in near term sight
GS comments via wires


ForexLive
By continuing to browse our site you agree to our use of cookies, revised Privacy Notice and Terms of Service. More information about cookiesClose