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Gold/Mining/Energy : Gold and Silver Juniors, Mid-tiers and Producers
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To: LoneClone who wrote (21546)9/20/2006 11:04:54 AM
From: LoneClone  Read Replies (2) of 78419
 
Commodities super-cycle under way, says Merrill
Source: Business Day

metalsplace.com

Investment house Merrill Lynch stuck to its view that there was a global "super-cycle" under way in commodities but was watching the market closely for warning signals, it said in its latest research report on the sector, released yesterday.

Merrill Lynch analyst David Hall expected commodities prices would strengthen in the next couple of months on a rebound in Chinese demand, especially in copper, fears of further strikes at mines and renewed demand as the northern hemisphere countries ended their summer holidays.

In the longer term, Hall said the super-cycle would be driven by the urbanisation and industrialisation of China, followed by India. But not every year would be an "up year" and there were signs that next year could be one of the "down years".

Nickel was experiencing the best market conditions and there might be five years of supply deficits, which could underpin prices.

Hall retained his recommendation to buy both Anglo American and BHP Billiton and remained neutral on Kumba.

Anglo American's earnings forecast for this year and next year were slightly increased because of the group's significant exposure to precious and base metals.

Billiton's earnings forecasts for the current financial year to June and the following year were increased because of Billiton's exposure to nickel and copper.
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