Morgan Stanley Says Copper Price to Rise 7.6% in 2013 on Demand
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Copper prices will advance 7.6 percent in 2013 from last year as demand in China, the U.S. and even Europe is forecast to rise amid a supply deficit for the metal, according to Morgan Stanley.
The bank projected copper prices to rise to $8,554 a metric ton, or $3.88 a pound, in 2013 from $7,952 a ton in 2012, analysts Peter Richardson and Joel Crane wrote in a report today. They forecast the price to decline to $8,157 a ton in 2014 and $7,496 in 2015.