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Copper correction on tap?

Tags: Copper

Copper prices are sitting near three-month lows on fears of an economic slowdown in the U.S. and China, the number one and two economies in the world, respectively.

Paul Dewison, editor of Intierra Resource Intelligence, tells BNN an oversupply of the metal will lead to an even bigger drop in the coming years.

Dewison expects copper prices will eventually fall to around $6,000 US a tonne from their currently level of $8,000.

"For quite a long time there has been supposedly been a wall of copper going forward and as we go through time that wall moved more or less with us, but it's still another two years away that we're looking at a massive increase in supply," he says.

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