Copper Forecast Update: Prices Should Fall as Supply Rebounds and Chinese Demand Slips Post-Stimulus
We’ve raised our 2017 and 2018 copper price forecasts amid short-term supply constraints and stimulus-related demand growth in China. We now expect prices to average $2.65 per pound in 2017 (previously $2.40) and $2.40 in 2018 (previously $2.05). We upgrade our Oz Minerals fair value estimate to AUD 5.90 per share from AUD 5.30.We expect copper prices, which have surged in recent weeks to $2.90 per pound, to fall in the remainder of 2017 and into 2018. As the impact of Chinese credit stimulus f...
OZ Minerals is a mining company engaged in exploring for, developing and operating copper, gold and base metal projects. It owns the Prominent Hill copper-gold mine and Carrapateena copper-gold project, both located in South Australia. Co.'s operating segments are: Prominent Hill, which comprised of mining copper, gold and silver from the Prominent Hill Mine; Carrapateena, which comprised of exploration and evaluation associated with the Carrapateena project; Exploration and Development, which comprised of exploration and evaluation activities associated with the other projects and include interests and joint ventures with Minotaur and Toro Energy Ltd, and Corporate Development activities.
Morningstar, Inc. is a leading provider of independent investment research in North America, Europe, Australia, and Asia. The company offer an extensive line of products and services for individual investors, financial advisors, asset managers, and retirement plan providers and sponsors.
Morningstar provides data on approximately 530,000 investment offerings, including stocks, mutual funds, and similar vehicles, along with real-time global market data on more than 18 million equities, indexes, futures, options, commodities, and precious metals, in addition to foreign exchange and Treasury markets. Morningstar also offers investment management services through its investment advisory subsidiaries and had approximately $185 billion in assets under advisement and management as of June 30, 2016.
We have operations in 27 countries.
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