(Bloomberg) -- Copper prices may fall about 30 percent by the end of the year as demand lags behind supply following a slowdown in the U.S. housing sector, according to the Commonwealth Bank of Australia.
Copper may drop to $5,500 a metric ton by December and average $6,220 a ton this year, David Moore, commodity strategist at the Sydney-based bank said in comments e-mailed to Bloomberg. Copper for delivery in three months on the London Metal Exchange rose $30, or 0.4 percent, to $7,985 a ton at 5:16 a.m. local time.
Read more at Bloomberg Commodities News
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