Goldman gets bullish on copper albeit at a lower price point. After a 13% YTD decline the...


Goldman gets bullish on copper albeit at a lower price point. After a 13% YTD decline the selloff is "overdone," according to the investment bank which cut its three-, six-, and 12-month estimates to $7,500, $8,000, and $7,000 per metric ton respectively. Although some demand concerns are warranted given the cooling of China's economy, "underlying cyclical growth is likely stronger than the headline figures suggest." (Previously: a bear market in copper)

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  • kmi
    , contributor
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    I guess this means GS is moving to take control of copper warehouses and plans to artificially restrict supplies of the metal to producers thereby driving up prices like it does with aluminum.
    22 Apr 2013, 08:42 AM Reply Like
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