Capital Economics sees copper prices rising to $6,800/tonnehttps://www.kitco.com/news/2019-10-22/Gold-s-rally-is-over-Copper-to-be-the-star-of-2020-says-Capital-Economics.html
The “star performer” next year will not be any of the precious metals, according to Capital Economics.
“We forecast that the price of copper will rally,” Bain highlighted. “Net-demand proxy suggests that growth in physical copper demand, though subdued, is still outpacing supply … Mine supply growth looks set to contract in 2019 and will probably remain weak in 2020 … We also expect demand to pick up gradually next year.”
In terms of price forecasts, Capital Economics sees prices rising to $6,800 a tonne by the end of next year, then advancing to $7,500 a tonne by the end of 2021 and finally surging to nearly $10,000 a tonne by the end 2025.