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Citibank Predicts Copper Price to Stay at Highs in Rest of Year on Tight Supply
Apr 18, 2017 14:06Source:SMM
Copper price will break through and stabilize above USD 6,000/mt in the rest of 2017 in anticipation of tighter supply, Citibank reported.
SHANGHAI, Apr. (SMM) – Copper price will break through and stabilize above USD 6,000/mt in the second half of 2017 in anticipation of tighter supply, Citibank reported.
Copper price will average at USD 6,040/mt in 2017 and USD 6,425/mt in 2018, Citibank foresees, as global copper supply will reverse to a deficit of 145,000 tonnes in 2017, and the deficit will widen to 152,000 tonnes and 242,000 tonnes in 2018 and 2019 respectively.
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