Commerzbank lowers its year-end copper price forecast to US$8 800/ton

According to foreign news on September 8, Commerzbank lowered its year-end copper price forecast from US$9,000 per ton to US$8,800. Platinum prices are expected to rebound to $1,100 an ounce by the end of the year, boosted by a record supply gap, the bank said. According to foreign news on May 31, Commerzbank said it expected copper prices to be US$9,000 per ton at the end of 2023 and US$9,400 at the end of 2024. Previous estimates were at $10,000. Commerzbank had predicted at the end of 2022 that the global economy and commodity prices would not improve significantly until mid-2023. Copper prices are expected to recover relatively modestly to $9,000 per ton in 2023.