Macquarie Hikes Copper Price Forecast for 2017-Shanghai Metals Market

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Macquarie Hikes Copper Price Forecast for 2017

Industry News 11:01:11AM Nov 14, 2016 Source:SMM

SHANGHAI, Nov. 14 (SMM) -Macquarie Bank raised its forecast of copper price to $5,350 per tonne in 2017, compared to $4,563 per tonne expected previously, according to wenhua.com.

Slight oversupply in 2018-2019 will weigh down copper prices to $5,000 per tonne, but copper will return to deficit later on, helping copper rise to $6,000 per tonne, Macquarie said. 

The article is edited by SMM and is provided for information purpose only. SMM assumes no liability and does not warrant the accuracy, reliability or completeness of information contained or quoted in the article, either express or implied. SMM further disclaims any liability for losses in connection with the information contained or quoted in the article.

For news cooperation, please contact us by email: sallyzhang@smm.cn or service.en@smm.cn. 

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#1 Refined Cu
Apr.19
49430.0
-170.0
(-0.34%)
Yangshan Copper Premium(Bill of Lading)
Apr.19
51.5
0.0
(0.00%)
Yangshan Copper Premium(Warehouse Warrant)
Apr.19
50.5
0.0
(0.00%)
Imported Cu Concentrate TC(Cu≥26%,Week)
Apr.19
67.0
-1.5
(-2.19%)
Imported Cu Concentrate TC(Cu≥26%,Month)
Mar.29
73.5
-6.0
(-7.55%)

Macquarie Hikes Copper Price Forecast for 2017

Industry News 11:01:11AM Nov 14, 2016 Source:SMM

SHANGHAI, Nov. 14 (SMM) -Macquarie Bank raised its forecast of copper price to $5,350 per tonne in 2017, compared to $4,563 per tonne expected previously, according to wenhua.com.

Slight oversupply in 2018-2019 will weigh down copper prices to $5,000 per tonne, but copper will return to deficit later on, helping copper rise to $6,000 per tonne, Macquarie said. 

The article is edited by SMM and is provided for information purpose only. SMM assumes no liability and does not warrant the accuracy, reliability or completeness of information contained or quoted in the article, either express or implied. SMM further disclaims any liability for losses in connection with the information contained or quoted in the article.

For news cooperation, please contact us by email: sallyzhang@smm.cn or service.en@smm.cn.