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The German financiers do not see the positive in the projections for non-ferrous metals

28 May 2013
The German financiers do not see the positive in the projections for non-ferrous metals

In the near future representatives of the German financial

conglomerate «Deutsche Bank» do not expect positive developments on the market

non-ferrous metals. «The recently published economic statistics from China,

showed a tendency the country’s manufacturing sector to the downturn in

the verge of a „summer lull“, made of players of the global platforms for trade commodity

resources with caution to the prospects of» — Express their opinions

the financiers of Germany. «Although the recent surge of consumer interest in

nonferrous metals pushed quotes on resources to a more confident position, we

expect that in the foreseeable future the market will come back pessimistic,

and especially such an assumption is relevant in relation to the copper price» —

summed up its forecast for professionals from Deutsche Bank.

A similar opinion regarding the immediate prospects for

sector non-ferrous metals was expressed by fellow German financiers — analysts of the British

structure of region investment banking company Barclays. «Chinese

indices of industrial production did not justify the optimistic (as

turned out) assumptions that prevailed in the market. Recently published statistics

from the PRC makes clear that the parties to wait for the escalation of demand for colored

metals are on the verge of summer should not be, and the best that can expect the prices of resources

this category of commodity exchanges, „marking time“ on the spot» — comment on his

the vision of the future specialists of the «Barclays».

Meanwhile, on the last working day (for

most of the exchanges it was last Friday, in the celebration of «Memorial Day»,

traditionally celebrated on the last Monday in may) at the world trade

venues in the prices of basic non-ferrous metals duplicated the previous

days (with minor adjustments). So the price of aluminum has fluctuated in

the corridor between 1800 and 1940 dollars per ton, copper was trading in the range of 7200−7300

USD, Nickel was balanced at $ 14800. for 1000

kilogram and tonne of zinc sold for $1820 — $1940. Lead and tin were quoted

close to 2000 levels and 21100 USD/Ton respectively.

23 May 2013
31 May 2013