Goldman sees copper at $4,000 by yearend as demand growth flatlines

摘要

Goldman Sachs expects copper prices to drop to $4,000 per tonne bythe end of the year as dollar strength continues and mine supplyoutpaces demand from China and other emerging markets, the banktold clients on Monday February 8.Goldman has been bearish on copper for the past three years, butin its latest note the bank warned that copper will remain on adownward trajectory until the end of 2018, as demand flatlinesduring China’s economic restructuring and supply proves resilient tolower prices.