Copper, tin likely beneficiaries in 2013 from im
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Copper, tin likely beneficiaries in 2013 from improved demand: Macquarie
London (Platts)--11Jan2013/608 am EST/1108 GMT
Copper and tin are likely to be the biggest near-term beneficiaries of improved apparent demand through the first half of 2013, with supply availability still limited, Macquarie said in a research note Friday.
Copper is seen at $8,063/mt from $7,950/mt in 2012. The forecast is flat on the previous expectation for 2013.
For copper the bank expects a stronger H1 and weaker H2 than previously thought.
"2013 could be a year where copper sees higher highs and lower lows than in 2012. We have raised our copper forecasts in 2016-17 to reflect a steepening top quartile of the cost curve -- to be clear we do not think copper will be at a premium to cost support over this period," Macquarie said. The 2016 copper price is seen at $7,525/mt and then $7,875/mt in 2017. The long-term outlook is for a copper price of $6,504/mt.
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