Metals Business Intelligence
By Tom Stundza -- Purchasing, 4/10/2008
$790Per-ton rebar price sought
Source: Nucor Corp.
WHAT IT MEANS: Even though construction activity has declined, the March market price for carbon steel reinforcing bar averaged a record $720, which Nucor wants to boost even higher.
$3.50Copper price average (per lb)
Source: London Metal Bulletin
WHAT IT MEANS: Marcel Awad, CEO of Chilean copper producer Antofagasta Minerals now forecasts an average world copper price this year of $3.50/lb. This is much higher than the earlier consensus forecast of $3.02 and would be a new record.
25%Increase in gold prices
Source: ABARE
WHAT IT MEANS: Investors have put the price of gold through the roof so bullion may average $870/oz in 2008, the Australian Bureau of Agricultural and Resource Economics commodity forecaster projects.
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