Reuters mid-2006 base metals poll

摘要

In the last three years there have been a whole string of Reuters surveys with roughly the same conclusions: the run-up in metals prices, that began way back in the fourth quarter of 2001, looked like it was running out of steam and the consensus view was that prices would fall gently from whatever the price was at the time of the poll. Last July, for example, commenting on the survey carried out then, we noted that "There is mounting evidence that the supply/demand fundamentals are turning. Metals consumption growth this year is clearly much slower than in 2003/4, high prices are stimulating new supply and weakness in physical markets is being signalled by lower price premiums."