Goldman Sachs is bullish on copper to $15000

Publicado: Apr 15, 2021 08:45
[Goldman Sachs bullish on copper to $15000] Goldman Sachs is bullish on the prospect of copper and now forecasts that copper prices will reach $15000 a tonne by 2025 as global green energy transformation drives demand. Copper for delivery on the London Metal Exchange rose 2 per cent to close at $9074.50 a tonne. All metals rose, with tin prices up 2.2% and aluminum prices up 1.3%. Goldman raised its 12-month copper price target to $11000 a tonne, well above its record price of $10190 in 2011 and Tuesday's closing price of about $8900.

Overnight, overseas markets focused on the global economy and corporate dynamics. On the global economy, Powell said it was likely to start scaling back quantitative easing "long before interest rates were raised"; the European Commission plans to issue bonds of about 150 billion euros a year over the next five years. In terms of company developments, Coinbase was valued at $85 billion on its first day of trading; the US Vaccine Commission chose not to vote on the thrombus risk of Johnson's vaccine; SpaceX raised nearly $1.2 billion, valuing it at about $74 billion; and Dell Technology will spin off its 81 per cent stake in VMware. In addition, copper stood at $9000, while Goldman Sachs saw as much as $15000, while Bitcoin and Dog Coin hit record highs at the time of the Coinbase listing.

Powell said it was likely to start scaling back quantitative easing "long before interest rates were raised".

Fed Chairman Colin Powell said the Fed will reduce its bond purchases before raising interest rates, defining the order of future monetary policy adjustments, but these adjustments will not begin until a few months or even years later.

Several other Fed officials spoke: Fed Vice Chairman Clarida said the Fed would need to adjust its policy if inflation expectations "continue to rise"; New York Fed President Williams said that the Fed has the tools to deal with excessive inflation; Dallas Fed Chairman Kaplan pointed out that it will take "some time" to achieve full employment.

Coinbase gets a valuation of $85 billion on its first day of trading

Coinbase Global Inc. Wednesday's debut was valued at $85 billion, an important milestone in an industry that began a digital currency experiment a decade ago.

As the first major bitcoin-related company to test the waters in the US public market, Coinbase shares opened at $381on the Nasdaq global select market, rose as high as $429.54 within minutes of trading and closed at $328.28 in late trading. Coinbase enters the public market through a direct listing under the ticker symbol COIN.

The reference price for listing on the exchange was set at $250 on Tuesday, but no trading was carried out at that price. Coinbase was last valued at about $8 billion in its 2018 fundraising, but some analysts predict the company could be valued at more than $100 billion based on private market deals. Coinbase's valuation broke through that level at one point in midday trading on Wednesday before falling back.

The European Commission plans to issue bonds of about 150 billion euros a year in the next five years.

The European Commission plans to issue bonds of about 150 billion euros a year over the next five years to finance the EU recovery fund. The European Commission will become the largest issuer of euro debt.

The fund aims to make the EU economy greener and digital, and the financing for the EU economic plan is 750 billion euros at 2018 prices, compared with about 807 billion euros at current prices.

Part of the money will be used to rescue the 27 EU member states, including 338 billion euros in allocations and 386 billion euros in loans, and the rest will be used in some EU joint programs. The funds will be distributed in batches over the next five years, of which 1/3 will be used to reduce carbon dioxide emissions from EU member states.

The European Commission will issue 3, 5, 7, 10, 15, 20, 25 and 30-year government bonds, as well as short-term bonds with a maturity of less than one year, namely EU Treasury bills. The executive committee will announce the financing plan six months in advance so as not to affect the bond issuance plans of member governments.

The American Vaccine Commission chose not to vote on the thrombus risk of Johnson's vaccine.

On Wednesday, a US federal advisory panel refused to vote on how to use Johnson's novel coronavirus vaccine, saying it needed more time to gather information about the risk of the vaccine after reports of rare but severe blood clots in a small number of vaccinators.

(ACIP), the vaccination advisory committee, said on Wednesday that there was not enough information about the risk of these unusual side effects to determine whether the vaccine should be continued, stopped, or recommended only to specific populations.

ACIP is expected to meet again in a week or two to revisit the issue. U. S. health officials on Tuesday recommended suspending vaccination against Johnson during the investigation.

The price of copper stands above $9000. Goldman Sachs sees it as high as $15000.

Goldman Sachs is bullish on the outlook for copper and now forecasts that copper prices will reach $15000 a tonne by 2025 as global green energy transformation drives demand.

Copper for delivery on the London Metal Exchange rose 2 per cent to close at $9074.50 a tonne. All metals rose, with tin prices up 2.2% and aluminum prices up 1.3%.

Goldman raised its 12-month copper price target to $11000 a tonne, well above its record price of $10190 in 2011 and Tuesday's closing price of about $8900.

Goldman Sachs predicts that copper prices will rise to $15000 a tonne by 2025 as the global green energy shift drives demand. Goldman Sachs believes that if copper prices remain at about $9000 a tonne, global inventories will be exhausted by early 2023.

"Copper is so indispensable for a government-backed global green transition that the required supply is destined to soar," Goldman Sachs analysts Nicholas Snowdon, Daniel Sharp and Jeffrey Currie wrote in a report on April 13. "Copper prices must now rise to stimulate sufficient supply to address potential shortages, or there is a risk of long-term scarce pricing in 2025-2030."

Bitcoin and Dog Coin hit record highs when Coinbase went public

The price of the cryptocurrency surged to a record high on Wednesday as the exchange Coinbase Global Inc. The imminent listing has boosted investor interest in digital assets.

According to CoinDesk, the price of bitcoin rose to a record $64801, the ethercoin hit $2398 at one point, and the dog coin surged 60% to 13 cents, having previously hit a high of 14 cents. Despite the surge in dog currency, Coinbase does not offer a service to trade dog currency.

Shares in Coinbase, the largest cryptocurrency exchange in the United States, listed directly on the Nasdaq Global Select Market on Wednesday, valuing it at $85 billion on the day of its listing.

SpaceX raised nearly $1.2 billion and valued at about $74 billion

SpaceX, the private rocket company of Tesla Chief Executive Musk, said in a revised regulatory document on Wednesday that the company had raised about $1.16 billion through equity fundraising over the past two months, valuing the company at about $74 billion.

SpaceX raised about $850 million in February and about $314 million for the second time, with a revised total of about $1.16 billion. Investors include Google parent company Alphabet and Fidelity Investment (Fidelity Investments).

PitchBook, a provider of financial software and data, said SpaceX's biggest round of fundraising was in August last year, raising $1.9 billion.

The market has responded enthusiastically to SpaceX's fundraising thanks to its starship (Starship) and Starchain (Starlink) space program. The starship is a new generation of rockets being developed by SpaceX, and its design performance is better than that of the Shennong 5 (Saturn V), which carries astronauts to the moon. Star chain is a global satellite network, SpaceX is beginning to use star chain to bring high-speed network services to customers.

Dell Technology to spin off its 81% stake in VMware

Dell Technology Group (DELL) said on Wednesday that it would spin off its cloud software giant VMware Inc.. 81% of the shares. Dell Technology said the deal would strengthen its financial position as it focused on new markets and reached more customers by adjusting its digital strategy.

Dell Technology said that VMware will pay its shareholders a special cash dividend of $11.5 billion to $12 billion related to the spin-off, of which Dell Technology will receive $9.3 billion to $9.7 billion. The company said it intended to use the net cash from the dividend to repay the debt.

Dell Technology shareholders will receive about 0.44 VMware shares per share.

Declaração sobre a Fonte de Dados: Com exceção das informações publicamente disponíveis, todos os demais dados são processados pela SMM com base em informações publicamente disponíveis, comunicação de mercado e com base no modelo de base de dados interna da SMM. São apenas para referência e não constituem recomendações para a tomada de decisão.

Para quaisquer perguntas ou para obter mais informações, entre em contato: lemonzhao@smm.cn
Para mais informações sobre como aceder aos nossos relatórios de investigação, entre em contato:service.en@smm.cn
Notícias Relacionadas
Impulso de Crescimento do Cobre da Zâmbia: O Que Será Necessário para Atingir 3 Milhões de Toneladas até 2031?
há 9 horas
Impulso de Crescimento do Cobre da Zâmbia: O Que Será Necessário para Atingir 3 Milhões de Toneladas até 2031?
Leia mais
Impulso de Crescimento do Cobre da Zâmbia: O Que Será Necessário para Atingir 3 Milhões de Toneladas até 2031?
Impulso de Crescimento do Cobre da Zâmbia: O Que Será Necessário para Atingir 3 Milhões de Toneladas até 2031?
A produção de cobre da Zâmbia atingiu 447.181,93 toneladas no primeiro semestre de 2026, um aumento de apenas 0,45% em relação ao ano anterior. Embora grandes expansões de minas estejam fortalecendo o pipeline de fornecimento do país, atingir a meta de produção anual de 3 milhões de toneladas até 2031 dependerá da execução de projetos, do desempenho das minas existentes e, criticamente, da disponibilidade de um fornecimento de eletricidade confiável e diversificado.
há 9 horas
South32 aumenta estimativa de reserva de minério da Sierra Gorda em 61% e estende vida útil da reserva até 2045.
há 11 horas
South32 aumenta estimativa de reserva de minério da Sierra Gorda em 61% e estende vida útil da reserva até 2045.
Leia mais
South32 aumenta estimativa de reserva de minério da Sierra Gorda em 61% e estende vida útil da reserva até 2045.
South32 aumenta estimativa de reserva de minério da Sierra Gorda em 61% e estende vida útil da reserva até 2045.
A South32 aumentou em 61% a estimativa de Reserva de Minério na mina de cobre Sierra Gorda, no norte do Chile, para 1,1 bilhão de toneladas, fortalecendo as perspectivas de produção de longo prazo da operação de cobre em larga escala. A Reserva de Minério atualizada, vigente em 31 de julho de 2026, apresenta teor médio de 0,39% de cobre total, 0,016% de molibdênio total e 0,06 g/t de ouro, com teor equivalente de cobre total de 0,46%. A South32 afirmou que o aumento ocorreu após melhor definição do corpo mineralizado, com aproximadamente 85 mil metros de sondagem de adensamento em 200 furos realizados entre 2023 e 2025. A base de reserva ampliada estende a vida útil inicial da reserva de Sierra Gorda em aproximadamente cinco anos, até 2045. A South32 também reportou uma estimativa atualizada de Recursos Minerais de 1,87 bilhão de toneladas, com teor médio de 0,37% de cobre total, 0,016% de molibdênio total e 0,06 g/t de ouro. A empresa destacou que o corpo mineralizado permanece aberto em profundidade, oferecendo potencial para o crescimento adicional dos recursos e da vida útil da mina. A atualização da reserva ocorre após a aprovação pela South32, em julho, de um projeto de quarta linha de moagem em Sierra Gorda, que deverá aumentar a produção de cobre em aproximadamente 30% a partir de 2031. A combinação de uma base de reserva maior e capacidade de processamento adicional sustenta um perfil de produção de longo prazo mais robusto para a operação. A South32 detém 45% de participação em Sierra Gorda, enquanto sua sócia de joint venture, KGHM Polska Miedź, detém os 55% restantes. Sierra Gorda é uma grande mina de cobre a céu aberto na região de Antofagasta, no Chile, que produz concentrado de cobre para exportação aos mercados internacionais. O aumento de 61% nas Reservas de Minério proporciona maior visibilidade sobre a produção de cobre de longo prazo de Sierra Gorda e apoia a expansão recentemente aprovada. Com o corpo mineralizado permanecendo aberto em profundidade, o sucesso adicional em exploração pode gerar potencial extra além da vida útil atual da reserva até 2045.
há 11 horas
Jiangxi Copper reporta crescimento de receita de 19,53% e aumento de lucro líquido de 106,77% no primeiro semestre de 2026.
há 12 horas
Jiangxi Copper reporta crescimento de receita de 19,53% e aumento de lucro líquido de 106,77% no primeiro semestre de 2026.
Leia mais
Jiangxi Copper reporta crescimento de receita de 19,53% e aumento de lucro líquido de 106,77% no primeiro semestre de 2026.
Jiangxi Copper reporta crescimento de receita de 19,53% e aumento de lucro líquido de 106,77% no primeiro semestre de 2026.
A Jiangxi Copper Corporation (600362) divulgou seu relatório semestral em 25 de agosto. No primeiro semestre de 2026, a empresa registrou receita operacional de 307,155 bilhões de yuans, um aumento de 19,53% em relação ao mesmo período do ano anterior; lucro líquido atribuível aos acionistas da empresa listada foi de 8,632 bilhões de yuans, alta de 106,77% na comparação anual; lucro básico por ação foi de 2,5 yuans. Durante o período do relatório, as variações na receita e no desempenho decorreram principalmente de mudanças nos preços e volumes de vendas dos principais produtos.
há 12 horas