| Goldman Sachs on Monday said metals, particularly copper and aluminum, are set to underperform oil in the near future on subdued global demand growth and a sluggish Chinese economy. "Around mid-2016 and through 2017, we expect that the oil market will adjust, while metals markets are set to weaken further, particularly copper and aluminum, resulting in substantial downside to metals prices relative to oil over the period," the bank said.
The investment bank cut its average copper price forecast by 8 per cent to $4,339 per tonne in 2016 and 11 per cent to $4,000 per tonne in 2017, citing current Chinese and global demand weakness and further cost deflation...............................................Full Article: Source
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