Goldman Sachs Cuts Copper Forecast on Likely Surplus Sooner Than Expected

Platts reported that Goldman Sachs has cut its copper forecast, based on the belief that a surplus will happen more quickly than had originally been expected.

As quoted in the market report:

While we have been forecasting a significant copper market surplus in 2014 for some time, our new H2 2013 surplus forecast suggests that the 12-month price outlook is incrementally bearish — owing to a higher cumulative surplus,” the analyst said.

To view the whole Platts report, click here.