03.16.09
MARKET TALK: LME Metals Likely To Ease This Week – BarCap (Dow Jones)
16 Mar 2009 15:35 GMT
MARKET TALK: LME Metals Likely To Ease This Week – BarCap (Dow Jones)
1535 GMT [Dow Jones] LME base metals will likely retreat this week and next
as recent gains were driven by “unsustainable factors” such as short-covering,
says Barclays Capital. Says aluminum remains in oversupply as producers have
yet to cut output enough, lead appears overvalued and Chinese copper and zinc
imports appear to be easing, which should slow the decline in LME copper and
zinc inventories. LME 3-month copper continues to rise, last at $3,800/ton,
+$135; aluminum +$6 at $1,353/ton; zinc +$36 at $1,260/ton; lead +$47 at
$1,295/ton. (MWL)
