Metals Industry Business Intelligence
By Tom Stundza -- Purchasing, 6/12/2008
$925Realized price for gold per ounce
Source: Barrick Mining
WHAT IT MEANS: The world's largest gold miner in Toronto says first-quarter gold price surged (from the 2007 full-year average of $695) because investors snapped up the precious metal as a hedge against economic and stock market woes.
9%Growth in aluminum use
Source: Alumina Ltd.
WHAT IT MEANS: Supplier of the raw material smelted into aluminum sees global demand for the light metal rising in 2008 because it expects Chinese consumption to climb 24%. (The Australian firm's sole asset is a 40% stake in the Alcoa Worldwide Alumina and Chemicals joint venture with the U.S. company.)
85,000Surplus (in metric tons) of world copper
Source: International Copper Study Group
WHAT IT MEANS: New report sees expanded supply in 2008 and 2009 so world refined copper will be in surplus of 85,000 metric tons in 2008, from a deficit of 40,000 in 2007, and an even-larger surplus of 430,000 metric tons in 2009.
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