Prices improve sleadily, production to rise 6.3 percent next year

摘要

Base metals have performed exceptionally since the beginning of the year. Despite 15-20 per cent losses in June and after the market mayhem in May, prices have recovered handsomely. Metals complex, led by base metals such as lead, nickel and zinc, is on the rise. Morgan Stanley, the world's biggest securities firm by market value, raised its 2007 forecast for average copper prices by 17 per cent to 3.50 dollars a pound and 3.15 dollars a pound for this year, compared with its previous 2006 forecast of 2.98 dollars a pound. The bank also increased its forecast for nickel prices next year by 30 per cent to 10.75 dollars a pound. However it had reduced its forecast for aluminium by 16 per cent to 1.05 dollars a pound in 2007. Aluminium, which was traded at 2586/87 per dollars tonne on Friday (Sept 29) at the London Metal Exchange (LME), rose to 2,817/ 18 per dollars tonne for delivery in three months on Tuesday (Oct 31). It was traded at 2,808 dollars on Monday night.