Goldman Says Copper’s ‘Breakout’ Above $11,000 Won’t Last
高盛高盛(US:GS) Yahoo Finance·2025-12-05 02:27

Goldman Sachs Group Inc. injected some caution into the debate over copper’s prospects, saying its surge past 11,000atonwillproveshortlivedastheresstillmorethanenoughmetaltomeetglobaldemand.Mostoftherecentcopperpriceincreaseisbasedonexpectationoffuturemarkettightness,ratherthancurrentfundamentals,thebanksanalysts,includingAureliaWaltham,wroteinanote.Wedonotexpectthecurrentbreakoutabove11,000 a ton will prove short-lived as there’s still more than enough metal to meet global demand. “Most of the recent copper price increase is based on expectation of future market tightness, rather than current fundamentals,” the bank’s analysts, including Aurelia Waltham, wrote in a note. “We do not expect the current breakout above 11,000 to be sustained.” Most Read from Bloomberg Copper m ...