Goldman Sachs Cuts Copper 3-month Price Forecast To $8,000/ton-Shanghai Metals Market

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Goldman Sachs Cuts Copper 3-month Price Forecast To $8,000/ton

Industry News 09:08:29AM Jun 12, 2012 Source:SMM

Jun 11, 2012 (Dow Jones) -- Investment bank Goldman Sachs Group Inc. (GS) Monday cut its three-month forecasts for a range of base metals, including copper and aluminum, citing risks posed to the complex by the euro-zone debt crisis and a stronger dollar.

The bank cut its three-month copper forecast to $8,000 a metric ton from $9,000/ton previously. It also lowered is aluminum forecast for the same period to $2,200/ton from $2,400/ton.

 

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#1 Refined Cu
Oct.11
47060.0
325.0
(0.70%)
Standard-Grade Copper
Oct.11
47050.0
325.0
(0.70%)
High-Grade Copper
Oct.11
47070.0
325.0
(0.70%)
Guixi copper
Oct.11
47075.0
320.0
(0.68%)
Low-quality copper
Oct.11
46995.0
300.0
(0.64%)

Goldman Sachs Cuts Copper 3-month Price Forecast To $8,000/ton

Industry News 09:08:29AM Jun 12, 2012 Source:SMM

Jun 11, 2012 (Dow Jones) -- Investment bank Goldman Sachs Group Inc. (GS) Monday cut its three-month forecasts for a range of base metals, including copper and aluminum, citing risks posed to the complex by the euro-zone debt crisis and a stronger dollar.

The bank cut its three-month copper forecast to $8,000 a metric ton from $9,000/ton previously. It also lowered is aluminum forecast for the same period to $2,200/ton from $2,400/ton.