Goldman: It's Totally Unrealistic to Expect China to Consume More Than Half the World's Copper
And without China, copper prices are going down.
China consumes half of this stuff.
Photographer: Chris Ratcliffe/BloombergThis article is for subscribers only.
As reported by Bloomberg News, analysts at Goldman Sachs have dramatically slashed their price expectations for copper.
Analysts led by Eugene King now see copper falling to $5,670 this year and $4,725 in 2016. That's down from their previous forecasts of of $5,724 and $5,825 respectively. Copper is currently trading around $5,361. So why the big bearish revision? It all has to do with China.