SHANGHAI, Jul. 13 (SMM) - Citibank expects copper prices to top $6,000 per tonne due to supply deficit, and reach $7,000 per tonne before the end of 2017. Copper prices may even outstrip $8,000 per tonne by the end of 2020, according to stcn.com.
China’s demand will grow 3-4% in the back half of 2017 due to grid upgrading and vehicle sales. This will drive up copper prices.
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