DBS Group Research: copper for three-month delivery rises to US $7000 per tonne

SMM: DBS Group Research said in a report on Wednesday that copper for three-month delivery is expected to rise to $7000 a tonne.

Copper futures are up about 40% from the low they hit in March, and prices are likely to consolidate in the short term, but in the long run, copper is expected to rise to $7000 a tonne.

This is mainly due to increased demand for electric vehicles, renewable energy and infrastructure construction, the agency said.

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