Barclays: Copper prices are likely to fluctuate sharply this year

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Barclays: Copper prices are likely to fluctuate sharply this year Jan 30, 2018

Barclays believes that copper market traders are expecting some significant price swings this year, even though they expect the spot average price of the London Metal Exchange (LME) to rise to $ 6,619 a tonne.

The bank said: "Although we expect the price to fall to $ 6,400 per tonne from the level of $ 7,000 at the end of the year, we expect the average spot price in the quarter to be as high as $ 7,700 a tonne under certain conditions."

Barclays said the recent rally in copper prices is a response to the global stock situation, labor disputes in major mines may boost prices further. However, traders need to look at the real estate market in China and credit expansion in 2016 is showing signs of a decline.

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