SHANGHAI, May 12 (SMM) –“Copper prices may fall below $5,340 per tonne in the latter half of the year,” cableabc.com reported, citing comments by Xu Changning, the senior economist of China’s leading copper producer Tongling Nonferrous Metals Group.
Although copper prices posted rebounds lately, upward momentum would be limited for the red metal, Xu said at the 2015 Global Wire & Cable Summit held in China’s Jiangsu May 8-10.
“Copper prices may hit a 2015 high around June and, we believe are unlikely to break through $6,800 a tonne. The prices will then vacillate between $6,200-6,800 before dipping below $5,340 a tonne,” Xu predicted.
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