Business Intelligence - Metals
By Staff -- Purchasing, 8/16/2007 2:00:00 AM
$4/lb
4Q copper price forecast
Source: BaseMetals.com
WHAT IT MEANS: "With all metals looking stronger and crude oil rallying, you have to wonder whether we are entering another concerted run-up in commodities," says analyst William Adams. With spot prices at $3.65 in mid-July, he says "copper soon will see fresh highs above the May 2006 highs at $3.99."
35K
Aluminum deficit (in metric tons)
Source: World Bureau of Metal Statistics
WHAT IT MEANS: World aluminum prices are higher than last year and rising. Demand for primary aluminum was 15.30 million metric tons through May but production was 15.23 million metric tons. Total reported stocks at the end of May rose to 2.81 million metric tons, equivalent to one month's demand.
$25/lb
Expected 3Q molybdenum price
Source: Platt's Metals Week
WHAT IT MEANS: Lackluster sales activities in the international spot markets are expected to drive down the price of the steel-alloying metal, which has been selling in excess of $30/lb since early May.
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