24.11.2011 - Commodities confidence but no shine
As we believe that the European debt crisis will linger in the next six to nine months, adversely impacting China’s growth, which is crucial towards demands of commodities. This is why we downgraded our forecasts on metal prices. As most commodities have a high correlation with oil prices, we believe that tin prices would remain unexciting, in line with world economic outlook. However, we expect recovery in the middle of 2012, as Indonesia’s smelters will continue their export ban until tin prices recover to around the US$23,000 level...............................................Full Article: Source
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