Copper Seen by Goldman Grinding Lower as Demand in China Wanes

Copper prices will “grind lower” over the next six to 12 months as production costs decline and demand softens in China, the largest consumer, according to Goldman Sachs Group Inc.

Consumption of the metal will fall with the weakening of China’s property sector, which accounts for 50 percent of the nation’s copper demand, analysts including Jeffrey Currie and Max Layton wrote in a report dated yesterday.