Bank forecast. Take with grain of salt
Copper’s slump amid a deepening global trade conflict offers a long-term buying opportunity, according to Citigroup Inc., which shrugged off fears for world growth to boost its long-term forecasts.
“Prepare for a decade of Dr. Copper on steroids,” analysts including Max Layton and Tracy Liao wrote in a July 17 note. The bank sees average annual prices at $8,000 a metric ton in 2022, passing $9,000 a ton by 2028 under its baseline scenario. The metal, often viewed as a barometer of world economic health, closed Tuesday at $6,152 a ton in London.
https://www.bloomberg.com/news/arti...er-on-steroids-as-trump-slump-belies-shortage
Bank forecast. Take with grain of salt Copper’s slump amid a...
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