Friday, September 05, 2008

Copper strong now, but down to $1 by 2011?

Standard & Poor's expects persistent strength in metals prices including $750 gold and $2.75 copper over the next few years.

But S&P's base-case metals prices include $750 per ounce gold from 2008 through 2010, with $650/oz gold in 2011 and $500/oz gold in the long term. For copper, the analysts predict $3.25/lb for 2008, $2.75/lb in 2009-10, $2/lb in 2011 and $1/lb for the long term. [right, copper cathode plates. Credit Freeport McMoRan Copper & Gold]

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