Copper to average $9,000 a metric ton in Q2; nickel at $23,500: Deutsche Bank
Wednesday, 22 February 2012 | 12:31
A strong showing by industrial base metals in the second quarter, said Deutsche Bank in a weekly commodities report.
“Over the next several months, we believe that re-stocking could surface in China and Europe as economic conditions normalize. We therefore expect that industrial metals prices could be underpinned in the second quarter as the physical market catches up with the improvement in financial market sentiment,” the bank added.
Deutsche Bank looks for copper to have its strongest quarter in the second quarter, forecasting $9,000 a metric ton before $8,500 and $8,700 in the third and fourth periods.
Other second-quarter forecasts include aluminum, $2,400; lead, $2,250; nickel, $23,500; tin, $26,000; and zinc, $2,350. This is higher than where all are currently trading.
Source: Commodity Online