AFP: Metals price outlook has improved, says agency
STANDARD & Poor’s has upped its metals price outlook on signs of economic recovery, the global ratings agency said yesterday.
However base-case price assumptions remained conservative. “For 2009, our price assumptions for copper, nickel, and gold ... (have) increased since our last update in December 2008. On the other hand, our 2009 price assumption for aluminium is lower due to ongoing weak demand and supply,” said S&P’s credit analyst Alex Herbert. Following falls in base metals prices in the second half of 2008, prices had stabilised at low levels in early 2009, the agency said. “... prices have strengthened on hopes of global economic recovery, and as producers have cut production.” — Sapa
