Copper prices set for long-term rise: Jefferies

Oct 02, 2012 | 02:52 PM | Claire Hack

Tags  copper, Jefferies Bache, analysts, Freeport McMoRan Copper & Gold, share prices, LME, London Metal Exchange, NYSE New York Stock Exchange

LONDON — Analysts at Jefferies Bache predict an extended period of rising copper prices, they wrote in a note Tuesday.

After updating their supply and demand model, the analysts continue to predict a small surplus in copper up to 2015. But they say that "very significant" copper deficits will emerge in the following years.

This has led some to conclude that the copper price on the London Metal Exchange is likely to correct in the near and medium term. But analysts at the London-based firm don’t back that view. ....

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