A Reuters survey of price forecasts by 20 base metals analysts published today points to a slight fall in tin prices next year, although some analysts are predicting further rises to new record levels.
The average of all the forecasts for the LME cash price in 2007 is US$13,585/tonne (the actual average in the first half of this year was $13,397/tonne), falling slightly to $12,701/tonne in 2008. The range of forecasts for next year is from $10,000/tonne to $15,200/tonne.
28 analysts from banks, brokers and independent consultants contributed to the survey of price forecasts for all LME metals. The averages of forecasts for 2008 for all the six primary metals traded on the exchange were below current values, with particularly large drops expected in copper and lead.
