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Copper Set for ‘Strong Rally’ in 2Q on Deficit, Goldman Says
Nov. 21, 2011 10:38AM PST
Base Metals Investing Bloomberg reported that according to Goldman Sachs Group Inc., copper is likely to set for a “strong rally” in the second quarter of 2012 due to expected deficit of copper.
Bloomberg reported that according to Goldman Sachs Group Inc., copper is likely to set for a “strong rally” in the second quarter of 2012 due to expected deficit of copper.
As quoted in the market news:
Demand may exceed supply by 180,000 metric tons in 2012 and 176,000 tons in 2011, Max Layton and Allison Nathan, analysts at Goldman, wrote in a report dated yesterday. Copper will rise to $8,000 a ton over the next three months, $9,000 a ton over the next six months, and $9,500 a ton over the coming 12 months, the report said.
