Copper tops

Copper tops

about 5 years ago1 min

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Here’s another snackable insight for Markets Pros 🍿

Morgan Stanley just joined fellow investment banks Goldman Sachs and Citigroup in predicting copper’s price will rise this year. Three’s a crowd 👪 – but not if they’re right…

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Morgan Stanley’s analysts predict copper’s price will rise 14% by the end of 2019, to just under $7,000 per metric ton. The bank thinks that even a small growth in demand would be enough to outstrip supply: “weak grades at major operating mines more than offset limited growth from green- and brownfield projects,” its report says, “resulting in shrinking total mine production through 2019.”

Other banks are bullish too: Goldman also predicts a price of $7,000, and Citi’s forecasting a $6,700 price within the next six months 📈

Copper’s current price is $6,102 per metric ton
Copper’s current price is $6,102 per metric ton

Doctor Copper” is renowned for being sensitive to the state of global economic growth – and dissenters argue that any significant increase in demand for the metal is still some way off 👨‍⚕️

Electric vehicles are expected to drive copper demand higher, but with major mining projects coming online, there may not be a supply deficit to drive up prices until the mid-2020s…

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