Copper price forecast cut

London
Worries over the outlook for Chinese growth have dented expectations for copper prices next year, a Reuters poll showed on Thursday, with respondents cutting their average price forecast for the metal by 9 percent over the last three months.
A poll of 29 analysts and traders carried out over the last two weeks returned an average copper forecast for 2016 of $5,450 a tonne, down from a view of $6,173 a tonne returned by a similar poll at the end of July.
A run of downbeat Chinese data in recent months, including trade and inflation numbers this week, has fueled concerns over the prospect of a hard landing in the world's number one copper consumer, which could dent demand for raw materials.
The average price forecast for 2015 has been cut to $5,601 a tonne from $5,952 a tonne three months ago, after prices fell more than 10 percent in the third quarter, their biggest quarterly loss since early 2014.