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Merrill Lynch lowers 2012 forecast for metal prices
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It's reported that Bank of America Merrill Lynch lowered its 2012 forecast for metal prices
According to Merrill Lynch, the prices of gold during the year are expected to fall 2.3%to US$1710/ounce, and spot silver price down to US$31.63/ounce.
The biggest price cut is aluminum. The bank expects the aluminum market will maintain the structural weakness, and prices of 2013-2014 may drop to US$1,500/ton. The 2012 aluminum price was estimated at US$2,076/ton.
For copper, 2012 Copper price will be at US$8,018/ton, and that of 2013 is estimated to be US$7,813/ton.
News Date
7/10/2012 11:18:54 AM
reported by
Susan Ni
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