Meanwhile in copper, the industry expects it to hit a record high of $9,000 per tonne, on concerns that next year will bring a shortage of copper concentrate, a crucial pre-product. According to a new report from Goldman Sachs this week: "Even relatively conservative demand forecasts suggest that the global copper market will sustain deficits large enough to mostly deplete exchange inventories over the next five quarters, leading to periods of extreme volatility and price spikes."