Goldman Sachs lowered the forecast of copper prices in the short term
Thanks to Vladimir Gavrilov for the link
Census Vera Savchenko
#Tominskogo #RMK #Chelyabinskaya
"According to Dow Jones, Goldman Sachs has revised its forecast for copper prices in the next 3 and 6 months, up to $6100 per ton (from $6500 per ton) and $6400 per ton (from $7,000 per tons) respectively, however, kept their forecast for the metal prices at $,000 per ton at the end of 2019 (In the last metal price on LME have reached the level of $7,000 per tonne in February 2018)
...The Bank noted that China's policy of further restricting the import of copper scrap from July 2019 and the level of demand for housing in China will support prices. Forecast of the average price of copper Bank in 2019 is $6450 per ton, which is close to the previous year. "To copper prices decreased to $5,000 for a t, you will need the strengthening of the dollar by 5% and the price reduction of Brent oil to $42 per barrel",– the experts of the Bank."
Copper price on LME has already reached the level of 5607 us dollars.per ton 03.01.2019.
And the project "Tominsk GOK" company RCC ltd from the British virgin Islands (known in Russia as "Russian copper company") will be able to enter the zone of minimum return only if the price is over $ 7,300.per ton.