A survey of metals analysts published by Bloomberg on Monday indicated that copper, lead and other industrial metals may decline from current prices, after increasing sharply last year, partly on expectations that supply will outpace demand.
Bloomberg surveyed 23 analysts on their LME price projections for 2010, with 15 companies giving forecasts for tin. For all six LME metals the median price forecast for this year was slightly lower than the closing price on 8 January. Also for all six metals the median forecast of the supply/demand position was for surplus supply this year.
In the case of tin, price forecasts range from a low of $13,200/tonne to a high of $20,500/tonne, with a median of $15,640/tonne. The median forecast of the tin supply/demand position was a surplus of 5,000 tonnes.
