Interesting article from the West Australian:CNBC newsGoldman...

Interesting article from the West Australian:
CNBC newsGoldman Sachs and others expect copper prices to soar. Here are some related stocks that analysts loveWeizhen TanCNBCMon, 5 June 2023 2:01PM

Copper prices are at their lowest levels in almost a year, but it could provide investors with a buying opportunity.Wall Street analysts have turned bullish on the metal, with Citi among the banks expecting prices to soar.In its base case, copper could rise by nearly 50 per cent in 2025 to $US12,000 a tonne, while in the bull case, prices could double to $US15,000/t Citi said in a May 31 note.“We recommend consumers and long-term investors gradually build copper exposure over the next six months or so. We see increasingly attractive risk-reward with this strategy,” it said.In another May report, Goldman Sachs gave copper prices 25 per cent upside over the next 12 months, rising to $US11,000/t.
Copper prices suffered a nearly 6 per cent decline in May — on pace for the worst month in almost a year since June 2022, according to CNBC analysis.But the market is currently in a “significant deficit” phase, said Goldman analysts.“China demand is outperforming growth concerns,” Goldman wrote. “Whilst China’s demand strength has been underappreciated, it is equally important to recognise the persistence of a negative shock in mine supply as a tightening effect on this market.”Overall, long-term global demand for copper is growing, thanks to continued policy support for renewables and electric vehicles, according to Goldman.The metal has a wide range of applications throughout construction and industry. It’s also a critical component in electric vehicles, used in batteries, wiring, charging points and more.