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Gold/Mining/Energy : Mining News of Note
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To: LoneClone who wrote (17522)4/10/2008 10:25:12 AM
From: LoneClone  Read Replies (1) of 194223
 
UPDATE 1-RESEARCH ALERT-Citigroup ups price forecasts for metals
Tue Apr 8, 2008 6:20am EDT

reuters.com

(Adds details)

April 8 (Reuters) - Citigroup raised its price forecasts
for a host of metals, including aluminium and copper, saying
many commodity prices have hit new highs in recent weeks,
driven largely by investment inflows, despite the economic
slowdown.

Investments in commodity indexes increased by $40 billion,
equal to the total increase in 2007, the brokerage said in a
note to clients.

The brokerage said it remained "cautious" on the metals and
mining sector , given the slowing economies.

"To generate performance we would look to stocks with value
and volume growth: Xstrata, Ferrexpo and Anglo," Citigroup
said.

 The following table shows changes to commodity price
forecasts:
 Metals         RIC      Unit       Price Forecasts

                                  New        Old
 Aluminium     ALc1     $/LB       1.32       1.20
 Copper        HGc1     $/LB       3.56       3.10
 Nickel        MNI3     $/LB       12.5       10.5
 Zinc          MZN3     $/LB       1.05       1.04
 Lead          MPB3     $/LB       1.18       1.13

(Reporting by Bhaswati Mukhopadhyay in Bangalore; Editing by
Amitha Rajan)
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