Citigroup: “Expect Copper to reach 7500$ until the end of the year”

Copper’s poised for a fresh rally this year, according to Citigroup Inc., which sees the metals market picking up by the third quarter as Chinese demand proves supportive and global trade tensions ease. Copper could rally to $7,500 per metric ton in the next three to six months, about 10 percent above current levels, as macro conditions and risk appetite improve, said Tracy Liao, a commodities strategist at the bank. The metal, which is up nearly 22 percent during the past year, has not touched that level since April 2013.

Source: Bloomberg Pro Terminal

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