Copper Set for ‘Strong Rally’ in 2Q on Deficit, Goldman Says

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.

Click here to read the full Bloomberg report.