Most of the LME Metal Traders were in Melbourne this week for the Downunder Dinner.(Some horse meetings may have also influenced the timing?LOL)
All the guys I spoke to were comfortable with demand going forward for copper and nickel. Zinc was going to be soft until the new year, lead was due a correction.
The bulks-iron,ali, coal-both thermal and coking had very good outlooks. China,Brazil,India and Russia not slowing down and the Eurozone quite solid. US no longer in the picture-its industry is now in Mexico, Canada or elsewhere!
These were 3-6 month views only.
The trick with project finance is to get a reputable 3rd party to take the credit risk. Once you have that 'credit' you can juggle your currencies!
Cheers,TAS
ASX Price at posting:
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