Reuters Poll Sees Lead, Zinc, and Nickel All Lower Than Earlier Forecast

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The survey of 42 commodity strategists from around the world carried out over the past month suggests cash prices of zinc and lead on the London Metal Exchange will drop further than forecast in a Reuters poll at the beginning of the year.

Lead and zinc prices are expected to fall this year and next as mine output growth accelerates and inventories keep rising, a Reuters survey shows.

The survey of 42 commodity strategists from around the world carried out over the past month suggests cash prices of zinc and lead on the London Metal Exchange will drop further than forecast in a Reuters poll at the beginning of the year.

The median forecast for 2008 showed cash zinc at an average of $2,133 a tonne this year, 15 percent below the price forecast in the January poll. The survey forecast the 2009 price at $2,000, 9 percent lower than the January poll...

he median for lead was an average of $2,252 a tonne in 2008 and $1,872 in 2009, down 11 percent and 5 percent from the forecasts in January.

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