Bloomberg reported that Natixis Commodity Markets Ltd. projects that due to Chinese consumption and supply constraints, copper prices will average $8,250 per metric ton this year.
Bloomberg reported that Natixis Commodity Markets Ltd. projects that due to Chinese consumption and supply constraints, copper prices will average $8,250 per metric ton this year.
As quoted in the market news:
While the estimate is below its May forecast of $8,800, it’s above the metal’s average of about $8,018 so far in 2012.
“Among the base metals, copper continues to exhibit the strongest fundamentals,” Natixis said. “Despite the weak global economy, restocking in China is driving a strong increase in apparent demand. If underlying economic conditions begin to improve, a significant rally in copper prices remains a distinct possibility.”
MARKETS
COMMODITIES
Commodities | |||
---|---|---|---|
Gold | 1846.53 | +0.13 | |
Silver | 21.75 | +0.03 | |
Copper | 4.30 | +0.02 | |
Palladium | 1968.65 | +11.53 | |
Platinum | 957.67 | +3.19 | |
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Heating Oil | 3.62 | -0.05 | |
Natural Gas | 8.06 | -0.25 |
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