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Ratings agency Fitch bullish on copper in medium term
September 18, 2012 - 21:38 GMT
Copper has the most bullish fundamentals of the exchange-traded base metals over the next 12 to 18 months, assuming a soft economic landing in China and a slow recovery in developed nations, Fitch Ratings said.
Prices for the metal are expected to remain well above
marginal costs of $2.15 per pound ($4,739.93 per tonne), while
earnings before interest, taxes, depreciation and amortization
(Ebitda) for medium-cost producers should remain above 45
percent over the next 12 to 18 months, the ratings agency said
in a research note. Fitch expects U.S. copper consumption to
grow about 2 percent annually through 2014, mainly due to
increased auto industry demand....
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Euromoney Institutional Investor PLC.
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