Copper prices could rise above $20,000 a ton by 2024 if stocks deplete, Bank of America said in a research note on Friday. Stock levels now are comparable to those seen 15 years ago and cover less than a month's demand for copper, the note said. "Of course, this fundamental backdrop is so concerning because the global economy is just now starting to open up and reflate. Linked to that, we forecast copper market deficits, and further inventory declines, this year and next", Bank of America researchers wrote. Copper demand is rising as the metal is a key element in many growing industrial sectors. It is for example ... (full story)