Copper could spike to US$13,000 a tonne in coming months, partially over low inventories, analysts at Bank of America said in a note.
The Bank of America strategists said copper faces “even more violent price swings” should scrap metal usage by refiners and smelters fail to increase as predicted and inventories deplete in the next three years. Under that scenario, the “red metal” could soar above US$20,000 tonne, or U$9.07 a pound, according to its note.
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These are only my thoughts and it does not constitute investment advice. Before acting on any information you read and before making any financial or investment decisions, you should always consult your advisor(s) or other relevant professional experts.
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