| Fitch Ratings' expects lower earnings in 2012 at base metals operations on lower prices and continued cost headwinds. Constrained recovery in developed markets and slower growth in emerging markets will weigh on volumes and prices in 2012 when compared with the first half of 2011.
Consensus expectations are for prices to be range bound at above current low levels but below 2011 peak levels. Fitch believes there can be significant volatility around these levels as a result of speculative demand, currency and the small size of the markets...............................................Full Article: Source
|