Tue Jun 16, 2009 1:22pm EDT
Goldman sees 2010 copper price at $5,800 per tonne
NEW YORK, June 16 (Reuters) - Goldman Sachs (G.N) expects the current downward movement in the price of copper to be short-lived amid growing expectations of a recovery in global economic growth, and it targeted copper at $5,800 per tonne by the end of 2010.
The investment bank kept its 12-month copper price target at $4,800 per tonne, unchanged from its May forecast. Copper for three-months delivery MCU3 on the London Metal Exchange closed at $4,980 per tonne on Tuesday.
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