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Morgan Stanley cuts 2013 base metals' forecasts
By Reuters | 23 Apr, 2013
It trimmed its copper price forecast to $7,793 per tonne from $8,600, saying there has been a shift in the copper market from a long period of constrained mine supply to one of small to moderate surpluses due to new mine capacity growth.
It also said that underlying copper demand trends remain encouraging.
"On a relative basis, however, we still prefer copper and tin, especially from (the second half of 2013) onwards, and are watching closely the potential for deficit markets to emerge in zinc later this year and beyond," the bank said.
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