In reviewing our price forecasts, our approach is to weigh up fundamental factors, technical indicators and fund sentiment to envisage the direction, scale and speed of the likely market moves. In short, the technical outlook remains constructive, the fundamentals are improving and investors are looking more favourably at base metals again in general. This suggests that there is only one way for prices to go, and that's higher. Indeed, we have been forecasting higher prices for some time, but the question now as we conduct a mid-year review is whether a steeper upward gradient to our forecast price trend is justified.
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