UBS analyst Daniel Brebner raised his forecast for copper, nickel and rhodium in the second and third quarters and for 2006 as well. For example, he increased the forecast for copper in the second quarter to $3.35 (U.S.) a pound from $2.95 and to $3 from $2.80 for the third quarter. His forecast for the year as a whole for copper is $2.80, up from an earlier estimate of $2.65. The changes for nickel were also substantial, with the estimate for nickel in the second quarter going to $9.10 a pound from $8.25 and for the third quarter to $9 from $8.
At the same time, he modestly lowered his forecast for silver, lead and spot coal.
