29 days ago • Posted by William Ramstein

Historical copper demand shows resurgence from previous negative growth: Trafigura expects $15k/ton

Both European and US growth has been moving out of the red zone and into positive levels starting in November. Trafigura Group expects demand to continue rising as it has been and believes prices could soar past $10,000/ton levels as Western economies being resurgence from covid-led troubles to $15,000/ton. Goldman has indicated copper could reach $10,500 within 12 months and Citi sees the asset reaching $12,000 next year in its bull-case scenario.

Source: Bloomberg