Copper And Aluminum Prices Dip In Goldman Sachs’ Latest Forecast

(MENAFN- The Rio Times) Goldman Sachs recently adjusted its forecasts for key commodities as Copper and Aluminiuim as China's economic recovery stumbles.

The renowned Wall Street bank has cut its predictions for aluminum prices in 2025 from $2,850 to $2,540 per ton, reflecting wider economic challenges.

Copper prices saw a more dramatic revision, now set at $10,100 per ton next year, down from the earlier projection of $12,000 by late 2024.

These changes stem from China's slower-than-expected rebound, compounded by ongoing issues in its real estate sector and manufacturing and export industries.

Analysts Samantha Dart and Daan Struyven have pointed out that the expected decrease in copper stockpiles will be delayed significantly.



This delay aligns with China's struggle to meet its ambitious 5% annual growth target. The nation's demand for commodities has weakened, and the outlook remains guarded.

Despite the bleak outlook for copper, iron ore, and nickel, Goldman Sachs finds a silver lining in gold.

The bank stands by its target of $2,700 per ounce for gold by early 2025. This optimism stems from likely interest rate cuts by the Federal Reserve and ongoing robust demand from central banks.

Goldman Sachs' revised commodity forecasts reflect not just China' economic challenges but also the broader global market dynamics.

As China faces these economic headwinds, the implications ripple across the world, shaping investment strategies and setting new economic expectations globally.

Copper and Aluminum Prices Dip in Goldman Sachs' Latest Forecast

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