Copper to be the star of 2020, says Capital Economics 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.
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