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Analysts forecast a corrosive year for copper prices

Posted on 23 January 2014

The outlook for copper isn’t very bright, with analysts expecting prices for the metal to fall this year. Goldman Sachs analysts on Tuesday said they expects copper prices on the London Metal Exchange to average $6,850 per metric tons, or about $3.11 a pound this year. That’s down from an estimated average of $7,328 per metric ton, or $3.32 a pound in 2013.
The analysts see a surplus of 385,000 metric tons in 2014. “This reflects the strong growth in supply following a decade of mining capital expenditure, together with an anticipated strong ramp up in smelter output in 2014 and 2015.”……………………………………….Full Article: Source


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