Goldman Sachs said on Tuesday that its copper prices for the three, six and 12 months were revised up to $ 6,750, $ 6,900 and $ 7,050 a tonne, respectively, from previous estimates of $ 6,200 and $ 5,600 a tonne, respectively And $ 5,500.
Goldman Sachs said the three-month copper price forecast from 6,200 US dollars raised to 6,750 US dollars due to the US dollar weakened, and the market for China's economic growth to ease concerns eased.
The investment bank said we had previously expected the copper market to supply 150,000 tonnes of surplus in 2018 but now we think the copper market may supply 130,000 tonnes.
Goldman Sachs said: "We believe that over the copper market over the 2011-2016 period has ended, copper prices expected to rise, by 2022 the price expected to exceed the $ 8,000 mark."
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