Nevada Copper Corp NEVDQ

Bullish copper

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Goldman Sachs say the current copper bull run could continue well into 2022 and they estimate that the metal is likely to hit $10,000 per tonne for only the second time in history. Metals strategist Nicholas Snowdon said This current price strength is not an irrational aberration, rather we view it as the first leg of a structural bull market in copper,. He went on to say "Going into 2021, the copper market will face the tightest market conditions in a decade owing to a substantial deficit, we expect this period to be framed by a robust cyclical and policy-driven demand environment set against already low inventories, a fast-approaching peak of base case mine supply and a falling dollar. We believe a significantly higher copper price is needed to help balance this structurally tight fundamental backdrop." Goldman analysts raised their 12-month forecast for copper to $9,500 per metric ton, up from a previous estimate of $7,500. By the first half of 2022, Goldman analysts said, it is highly probable copper would test the existing record highs of $10,170 set in 2011.