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Goldman Sachs Cuts Copper Forecast on Likely Surplus Sooner Than Expected
Jun. 25, 2013 10:27AM PST
Base Metals Investing 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.
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.
