Emerging countries' economies -- now 70% of first-use base metals demand -- are predicted to grow by more than 5%, and China's alone by 8.5%, Paribas noted.
"This economic profile should suffice to keep base metals demand on an upward path."
Paribas forecast the LME zinc price to average $1,910/mt in the first quarter; $2,045/mt in Q2, $2,120/mt in Q3, $2,055/mt for full-year 2012 and $2,450/mt for full-year 2013.
Europe is also looking good. Mild recession for the quarter forecast and Italian 10 Year Bonds are tumbling today... -5.81% last time I looked but that can turn in a second albeit getting more difficult with the global economy on the mend.
