The metal will average $2,310 a ton in 2011 and $2,425 in 2012, Michael Widmer, head of metals research at Bank of America Merrill Lynch in London, wrote in a report on Sept. 27. Widmer was the second-most accurate forecaster for the metal for the eight consecutive quarters ended March 31, according to Bloomberg data.
That's prices increases to 95c a pound and $1.10 US respectively for 2011/2012.
And finally..
The market will see a deficit next year from a moderate surplus this year with solid demand from the construction sector, recent drops in refined production and declining unreported stockpiles in China, analysts at Macquarie, including Duncan Hobbs in London, wrote in a report on Sept. 26.
KZL Price at posting:
40.0¢ Sentiment: Buy Disclosure: Held
