1.40 a pound by 2011 perfect timing fot tala hamza!
London bullish on base metals
Posted: October 13, 2009, 10:50 AM by Eric Lam
Mining, copper, zinc, nickel, aluminum, metals
A team from Desjardins Securities has spent the past few days at the London Metal Exchange discussing the outlook for base metals in 2010. Consensus appears to be positive with most highlighting the strength of China in 2009 and potential for demand improvement next year. Here's a quick summary of their forecasts:
•Copper is seen to have the strongest fundamentals, with many workers forecasting prices as high as US$3.30 a pound in the fourth quarter of 2009 and eventually reaching as much as US$4 a pound
•Zinc is expected to hit US$1.40 a pound by 2011, with a demand deficit of 140,000 tonnes as soon as 2010
•Nickel also expected to rise, to US$10.50 a pound by the end of 2010
•Aluminum is not seen to be as strong as other metals with China possibly becoming a net exporter by the end of 2009
Read more: http://network.nationalpost.com/np/blogs/tradingdesk/archive/2009/10/13/london-bullish-on-base-metals.aspx#ixzz0UTICNv7c
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- zinc demand deficit by 2010 $1.4 a pd by 2011
zinc demand deficit by 2010 $1.4 a pd by 2011
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