SHANGHAI, Apr 7 (SMM) - Goldman Sachs predicts that copper is unwittingly heading for inventory depletion, and while price action remains modest, fundamentals are tightening. Analysts such as Nicholas Snowdon said a supply shock is happening and investors are wrong to be comfortable with the current supply situation. The bank expects a refined copper shortfall of 374,000 mt in 2022, double its previous estimate and enough to deplete visible inventories in the fourth quarter. The supply deficit forecast was raised to 161,000 mt in 2023 from previous estimate of 28,000 mt, and to 366,000 mt in 2024 from previously estimated 187,000 mt. Despite these tightening factors, copper prices have only edged up this year, giving investors a clear entry point to build long positions.