Morgan Stanley reduced its forecasts for industrial metals on concerns slowing growth in China, the world’s biggest consumer, and the nation’s worst cash squeeze in at least a decade will curb demand.
The bank cut its 2013 copper estimate by 3 percent to $3.42 a pound and lowered its nickel prediction by 7 percent to $7.23 a pound, according to analysts Peter Richardson and Joel Crane in a report. Copper for September delivery traded at $3.0285 on the Comex in New York...............................................Full Article: Source
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