Copper to trade near $9,000 by year-end – ANZ

Strategists at ANZ Bank analyze Copper’s outlook.

Upward pressure on prices remains in place

Copper demand is likely to grow by nearly 4% this year, which will keep the market marginally undersupplied.

With inventories sitting near multi-year lows, upward pressure on prices remains in place.

We expect Copper to trade near the $9,000 level by the end of this year.

See:

• Gold Price Forecast: XAU/USD to trade near $2,000 by year-end – ANZ

• Gold Price Forecast: Positive real US yields reduce the attractiveness of XAU/USD – Erste