Copper Set to Slide Before Rising in 2013 on Shortfall, RBC Says
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Copper prices are set to fall next year before rebounding in 2013 on shrinking inventories, according to RBC Capital Markets.
Copper will average $4.25 a pound this year, $3.75 next year and $4 in 2013, Fraser Phillips, a Toronto-based analyst at RBC, said in a note to investors dated April 8. Prices may reach $4.50 a pound through 2015, according to the note.