Goldman Sachs raised its 2025 aluminum and copper price forecast on October 28. The reason is that, after implementing stimulus measures, the demand potential of China, the largest consumer country, is even greater.
The bank raised its average aluminum price forecast for 2025 to $2,700 from $2,540 a tonne. Goldman slightly raised its average copper forecast for 2025 prices to $10,160 from $10,100 a tonne.
Demand for aluminum and copper will benefit from equipment upgrades in China and the trade-in programs for consumer goods. Goldman reiterated that iron-ore prices would need to fall below $90 a tonne, to get the fundamentals back in balance. Sustaining its forecast for oil, gas and coal prices.
Post time: Oct-28-2024