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Macquarie cuts commodity price forecasts by up to 60 pct

Posted on 17 November 2008

From Reuters: Investment bank Macquarie said on Monday it had cut its 2009 forecasts for base metals, coal and iron ore by up to 60 percent to reflect the deteriorating global economic outlook.

It joins a growing number of research houses that have lowered their outlook for the commodities sector, which had enjoyed a strong performance until the first half of this year before sharply correcting in recent months as the credit crisis has threatened to reduce demand for oil, metals, coal, iron ore and grains….. Full Article: Source


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