"Bank of America expects demand to hold firm next year and only sees a surplus in 2023. It forecasts prices to average $9,813 a tonne next year and $8,375 a tonne in 2023."
The reports are predictably all over the place. I guess one has to take into account the motives of who is behind the forecast.
The buy side, the sell side or the lenders/bankers.
One would have to think that a bankers valuation would be doom and gloom driven and should be an easily beatable number if what transpires is better than an absolute disaster.
Nice to see Bank of America talking $9813/tonne ($4.45/lb) next year and $8,375/tonne ($3.80/lb) in 2023.
Lachlan's "jump all the banking hurdles" three year LOM plan should come home a few lengths in front.
"Bank of America expects demand to hold firm next year and only...
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