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Copper to rise on growing deficit

The global copper price could rise to an average of US$3.50 per pound ($7,717 per tonne) in 2020-2023, as the small deficit of 11,000 tonnes for 2017 grows into something much larger by early 2019, according to research from a US-based bank.

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The copper supply deficit could grow to an estimated 629,000t in 2020, according to Jefferies

Jefferies noted the price was expected to be volatile in the near-term and rise to $2.75/lb in 2018 and $3/lb in 2019 from the current $2.87/lb.