Goldman Sachs lowers 2023 copper price forecast
Time:Mon, 24 Oct 2022 06:04:21 +0800
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Goldman Sachs, a financial services firm, estimated that copper price would average US$8,325/ton in 2023, lower than an earlier forecast of US$8,800/ton.
For 2024, copper prices were forecasted to average US$10,750/ton, down from an earlier estimate of US$14,000/ton. The average price forecast remained at US$15,000/ton for 2025.
According to Goldman Sachs, the copper market will face a significant shortage of 154,000 tons by the end of this year, and the refined copper market will be in a small oversupply of 169,000 tons in 2023.
