11 April 2006

Copper, Zinc Climb

Bloomberg.com: Australia & New Zealand: "Kemp forecasts copper may rise to as high as $7,000 a ton this year. Gary Lampard, an analyst at Canaccord Capital Inc., Canada's largest independent brokerage, increased his forecasts for base- metal prices. The gains are being ``heavily influenced by speculative activity,'' he wrote in a report today.
Investment Funds
Fund investments in commodities are forecast by Barclays Capital to climb by more than a third to $140 billion this year. Merrill Lynch said Feb. 8 money managers should invest directly in commodities, rather than energy and mining stocks, to take advantage of rising prices.
Copper inventories monitored by the LME has dropped for six consecutive trading days, shedding 8.3 percent to 111,800 tons. That's less than three days of global consumption. Zinc stockpiles have plunged 53 percent in the past year to 267,650 tons, equal to less than 10 days of global consumption"

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