Copper prices have been range-bound in recent months after a January slide from their highest in more than seven months and a May rebound from a slump below $8,000 a metric ton.
Analysts forecast a copper surplus this year of 111,000 metric tons, with oversupply rising to 188,000 tons next year.
Analysts expect a market deficit this year of 191,750 metric tons, dropping to 66,000 tons in 2024.
Analysts expect LME cash nickel prices to average $20,000 a metric ton in the fourth quarter, down 11% from the previous poll.
They expect the global nickel market to show a surplus of 199,000 metric tons this year and 150,000 tons in 2024.
Persons:
Dan Smith, Goran Djukanovic, Nguyen, Eric Onstad, Ananya, David Goodman
Organizations:
Amalgamated Metal Trading, Study, London Metal Exchange, Reuters, Indonesia, Thomson
Locations:
BENGALURU, China, YUNNAN, Yunnan, Yunnan province, Indonesia, Commerzbank, London, Bengaluru