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G Sachs: Copper Price Surge Beyond US$11K Unlikely to Sustain
Recommend 7 Positive 12 Negative 7 |
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Goldman Sachs injected caution into the outlook for copper prices, and suggested that its surge beyond US$11,000 per ton will be short-lived as current copper supply is sufficient to meet global demand. The recent rise in copper prices is mainly driven by expectations of future supply tightness rather than current fundamentals, the report noted. Therefore, the broker predicted that the surge beyond US$11,000 is unlikely to sustain. AASTOCKS Financial News Website: www.aastocks.com |
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