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2018 Copper Outlook
The copper bulls pricing mine disruptions might be too early. We think the copper market will be balanced this year and point out several reasons that suggest prudence remains on the side of being conservative
Executive summary
ING forecasts copper to average US$6,800/t in 2018, up 9.7% from 2017 but nonetheless involving a decline from spot levels which may have run ahead of the fundamentals.
The supply-demand picture looks balanced this year unless one expects a second consecutive year of extremely high disruptions. With the market seemingly already pricing this in, the risk it seems is to the downside.
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This publication has been prepared by ING solely for information purposes irrespective of a particular user's means, financial situation or investment objectives. The information does not constitute investment recommendation, and nor is it investment, legal or tax advice or an offer or solicitation to purchase or sell any financial instrument. Read more
This publication has been prepared by ING solely for information purposes irrespective of a particular user's means, financial situation or investment objectives. The information does not constitute investment recommendation, and nor is it investment, legal or tax advice or an offer or solicitation to purchase or sell any financial instrument. Read more