Investment bank Goldman Sachs on Monday cut its 12-month copper price forecast to $8,000 per tonne from $9,000 a tonne, reflecting its concerns over demand for the metal from the Chinese construction sector in late 2013 and 2014.
To reflect the weaker-than-anticipated global demand environment over the year to ate, Goldman said it moderately downgraded its three-, six- and 12-month aluminium, nickel and zinc forecasts.
