Reported about 1 month ago
Goldman Sachs has closed its bullish position on copper and revised its price forecast for 2025 down by nearly $5,000 due to waning demand in China. The bank now expects copper prices to average $10,100 per ton, a significant drop from the previous target of $15,000. Analysts attribute this shift to disappointing economic recovery in China, leading to increased inventories and a decline in apparent copper demand since March.
Source: YAHOO