Ratings agency Fitch bullish on copper in medium term
Sep 18, 2012 | 01:47 PM
| Thorsten Schier
Tags
Fitch Ratings,
nickel,
aluminum,
copper,
zinc
NEW YORK — Copper has the most bullish fundamentals of the exchange-traded base metals over the next 12 to 18 months, assuming a soft economic landing in China and a slow recovery in developed nations, Fitch Ratings Ltd. said.
Prices for the metal are expected to remain well above marginal costs of $2.15 per pound ($4,740 per tonne), while earnings before interest, taxes, depreciation and amortization (Ebitda) for medium-cost producers should remain above 45 percent over the next 12 to 18 months, the ratings agency said in a research note. ....
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