Economics
Top China Copper Trader Says Second-Half Slump Stalks Market
- Maike Metals founder sees weaker world growth hitting metals
- He Jinbi joins Codelco, Goldman Sachs in bearish copper call
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One of China’s biggest copper traders expects the metal to sink in the second half as demand ebbs in the world’s biggest consumer amid a slowdown in global growth.
He Jinbi, founder and president of Xi’an Maike Metals International Group, joins Codelco, the world’s biggest copper miner, and Goldman Sachs Group Inc. in predicting the metal’s advance from a six-year low won’t last. Prices, which traded above $5,000 a metric ton this month, will average between $4,200 and $4,300 this year, He said in recent interviews.