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S&P Global Ratings forecasts USD 6000 Price for Copper

Metal News - Published on Tue, 15 Oct 2019

Image Source: steelguru.com
S&P Global Ratings said that demand for copper is likely to remain under pressure over the next couple of years, against the backdrop of ongoing trade tensions between the US and China. Mr Simon Redmond at S&P Global Ratings said “We’ve revised down our assumptions for copper, given demand softness in the context of faltering global economic growth. Political and trade tensions are hitting investment plans and confidence, this is in spite of likely supply deficits for copper in the coming years. Gold, on the other hand, is benefiting from both these trade uncertainties and the ‘lower for longer’ expectations for interest rates.”

S&P Global Ratings forecasts the copper price to average around USD 6,000 per tonne for the rest of 2019 and 2020, and USD 6,100 per tonne in 2021.

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Posted By : Rabi Wangkhem on Tue, 15 Oct 2019
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