Goldman Sachs slashes 12-month copper forecast to $4,800

Goldman Sachs has cut its twelve-month forecast for copper prices to $4,800 per tonne in anticipation of mining cost deflation, higher output and a slowdown in Chinese demand growth.

The revised forecasts, which are $400 below its previous estimates, re-establish Goldman Sachs as the most bearish mainstream investment bank covering the copper market, surpassing Bank of America, which is forecasting an...

Published

Mark Burton

July 23, 2015

10:48 GMT

London