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 raise our fair value estimate for no-moat Sandfire Resources to AUD 4.80 from AUD 4.30 per share.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 ...
Sandfire Resources is a mining and exploration company. Co. is engaged in the production and sale of copper, gold and silver; and the exploration and evaluation of mineral tenements and projects in Australia and overseas. Co. has two operating segments: The DeGrussa Copper Mine, a copper-gold mine located in the Bryah Basin mineral province of Western Australia; and Exploration and evaluation, which includes exploration and evaluation of the mineral tenements in Australia and overseas, including exploring for potential repeats of the DeGrussa Volcanogenic Massive Sulphide mineralised system at the Doolgunna Projects and Co.'s investment in Tintina Resources Inc and WCB Resources Ltd.
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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