Goldman Sachs lowers copper price projections, warns of tough adjustment

The bank forecasts copper at US$6,700 a tonne over the next three months, down from a previous forecast of US$8,650.

RIO DE JANEIRO, BRAZIL - Copper has lost one of its most influential cheerleaders after Goldman Sachs Group Inc. cut its short-term price forecasts in anticipation of a sharp drop in consumer spending and industrial activity as Europe's energy crisis deepens.

Goldman analysts have been among the most bullish voices on commodities and warned that copper, in particular, could become one of the tightest markets ever seen. But with investors selling the . . .

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