FORECAST: Copper price to hit $8,000 per tonne in 2018 - Goldman

Projections for the price of copper in 2018 are being revised upward to $8,000 per tonne from $7,050 per tonne, with a growing gap expected between supply and demand, according to investment bank Goldman Sachs.

The commodities market as a whole currently offers the best investment environment since 2008, the bank said in a research report published on Thursday February 1.
Global demand will increase enough over the coming months to offset China’s continued transformation to a consumption-based economy and away from a reliance on metal-intensive infrastructure projects, it added.
“The outlook for commodities this year is simply a continuation of [the] trend [seen in 2017], with a greater emphasis on [emerging markets outside the borders of] China, which will make the composition of already robust global growth more commodity-intensive,” the research note said.

The bullish outlook is being driven by the emerging market economies, which are predicted to grow at an annualized rate of...

Published

Dalton Barker

February 02, 2018

01:25 GMT

Chicago