Copper to Surge to Record on Chinese Demand, Barclays Says
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Copper prices will rise to a record $12,000 a metric ton by the end of the year as China’s imports rebound, said Nicholas Snowdon, an analyst at Barclays Capital in London.
“The Chinese market is awakening from the destocking cycle that lasted nine months,” Snowdon said today at a Metal Bulletin conference in New York. “Their backyard inventories have been completely depleted. By July, we will begin to see a steady increase in imports.”