Copper has been trading above $2.3 per pound in May, as recovering economic activity in top consumer China after the coronavirus lockdowns boosted expectations of stronger demand. Still, renewed tensions between Washington and Beijing have spooked investors.
Historically, Copper reached an all time high of 4.63 in February of 2011. Copper - data, forecasts, historical chart - was last updated on May of 2020.
Copper is expected to trade at 2.38 USd/LB by the end of this quarter, according to Trading Economics global macro models and analysts expectations. Looking forward, we estimate it to trade at 2.19 in 12 months time.