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JP Morgan Chase: Copper prices are expected to fall to US$8,200/ton in the fourth quarter of 2022

Posted by: steel world 2021-11-12 Comments Off on JP Morgan Chase: Copper prices are expected to fall to US$8,200/ton in the fourth quarter of 2022

JP Morgan Chase: Copper prices are expected to fall to US$8,200/ton in the fourth quarter of 2022

Introduction: JPMorgan Chase analysts have a bearish view on copper prices, predicting that the average price in the fourth quarter of 2021 will be US$8,900/ton, and will fall back to an average of US$8,200/ton in the fourth quarter of 2022.

JPMorgan Chase analysts have a bearish view on copper prices, predicting that the average price in the fourth quarter of 2021 will be US$8,900/ton, and will fall back to an average of US$8,200/ton in the fourth quarter of 2022.

The investment bank analyst said that copper prices are still facing upside risks in the short term, because the logistics bottleneck has caused copper inventories in consumer countries to drop to “historical lows.”

On Wednesday, three-month copper on the London Metal Exchange rose 2.2% to $9,673 per ton.

Link to this article:JP Morgan Chase: Copper prices are expected to fall to US$8,200/ton in the fourth quarter of 2022

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