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Macquarie cuts price forecasts for metals, coal on demand slump

Posted on 19 January 2009

From Bloomberg: Macquarie Group Ltd. analysts slashed price forecasts for copper, aluminum, coal and iron ore as last year’s slump in commodities is expected to extend into the first half of 2009.

Copper prices may average $1.55 a pound, a 9 percent decline from Macquarie’s November forecast of $1.70, and 55 percent lower than the average price in 2008, analysts led by London-based Jim Lennon said in an e-mailed report today. Iron ore contract prices may fall 30 percent for the year starting April 1, down from an estimate of a 20 percent decline, it said….. Full Article: Source


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