From MB's Asia Copper Week
Copper prices will average $8,300 per tonne in 2013 – Sucden
Nov. 28, 2012
Shanghai - London Metal Exchange copper prices will average about $8,300 per tonne in 2013, Jeremy Goldwyn, director at Sucden Financial, said on Wednesday November 28.
“The range will be $7,700-$8,700 [per tonne], a slightly higher range than we have had this year,” he said on the sidelines of Metal Bulletin’s 8th Asia Copper Conference in Shanghai.
“Outside of that range we could still see peaks and troughs of $500 above or below [the range], but I think they will be fairly short lived just as we predicted this year,” Goldwyn said.
“[I am] mildly optimistic for copper specifically, less so for other metals,” he added.
There will be some changes on the supply side of the equation in the short term, particularly on the mine side, but nothing revolutionary, he added.
“We are not going to see 18% production growth,” Goldwyn told Metal Bulletin.
“The demand side of the equation is moving forwards rather than backwards” he added.
We are mildly optimistic for China next year. I don’t think everybody is bearish – I am certainly not,” he said.