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Copper price forecasts for 2013 improve on more balanced market

Posted on 30 January 2013

HSBC has lifted its forecast for copper prices in 2013 due to expectations of a more structurally balanced market and positive sentiment. Analyst Andrew Keen said in a note to client that the “market remains balanced in our view, and this is enough to keep prices high when sentiment is good.”
The new forecast raises the average cash copper price in 2013 to $8,000 per ton from $7,500. Benchmark three month copper futures on the London Metal Exchange recently breached the $8,000 to hit $8,066 in Monday morning trading………………………………………..Full Article: Source


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