Standard Bank revises dn 02 avg LME Al, Zinc cash prices
扫码查看
点击上方二维码区域，可以放大扫码查看
原文链接
NSTL
Standard Bank London Ltd. has revised down its projections for average cash prices of aluminium, zinc, lead and tin on the London Metal Exchange this year due to bearish fundamentals, the bank said in its May report. The 2002 LME aluminium cash price will average 1,400 dollars a metric ton this year, Standard Bank forecasts, down from the projected 1,425 dollars/ton in the April report. Last year, the contract price averaged 1,450 dollars/ton. "Despite the weak demand outlook, aluminium production is steadily rising. As such we could see further falls in the aluminium price in the short term," Standard Bank said.The bank projects an aluminium surplus of 350,000 tons this year, up from a surplus 310,000 tons last year. Higher output is expected to come from both the Western World and China. The Western World excludes China, Russia and the Commonwealth of Independent States. On the demand side, Standard Bank maintains its estimate for aluminium demand growth of 2.9 percent in the Western World this year against last year's contraction of 5 percent. The bank noted improved demand from South Korea, Taiwan and some industry sectors in the U.S., but said Japanese aluminium, demand remained in the doldrums in the first quarter. Japan is one of the world's major aluminium consumers.
NSTL
