business / news / / CNBC TV18
Goldman Sachs warns copper may fall further as Iran tensions and blocked Strait of Hormuz hit metals, cuts 2024 copper forecast to 12650 dollars per tonne from.
Goldman Sachs cut its 2024 copper price forecast to $12,650 per tonne from $12,850.
KEY POINTS
- Copper is trading significantly above its estimated fair value of about $11,100 per tonne.
- Goldman warns copper may fall further if the Strait of Hormuz remains blocked.
- Copper prices have dropped nearly 7% since the recent strikes on Iran.
COMPANIES
Summarized by Newsio from CNBC TV18. How we summarize →