Citi: LME Copper Futures Will Fall to $8,500/mt within Three Months

Citi said on Monday that the recent consumption suggested that global supply of copper and aluminium turned to surplus in April and that it could take some time for the supply and demand to tighten again. Citi expects LME copper futures to fall to $8,500/mt, aluminium futures to $2,700/mt, nickel futures to $25,000/mt and zinc futures to $3,300/mt within three months. Citi said: "We are most bearish on nickel, followed by copper and finally aluminium and zinc.”