A new survey of price forecasts for LME metals in 2012 and 2013 published by Reuters on Friday showed a slightly higher range of projections than in January. Reuters has now instituted a quarterly poll of bank and other analysts, having previously produced two surveys a year in January and July.
For 2012 the annual average LME price was forecast in a range from a low of $22,000/tonne to a high of $27,337/tonne, with a median value of $23,663/tonne. The median compares with a value of $22,125/tonne forecast in January. 22 companies provided tin price forecasts. For 2013, forecasts ranged between $23,000/tonne and $30,000/tonne, with a median of $25,629/tonne.
Analysts were also invited to forecast the supply/demand position for the six major LME metals in 2012 and 2013, and tin was the only one that on average was expected to experience a supply deficit in both years. Copper was expected to be in deficit this year, but aluminium, lead, zinc and nickel were all expected to be over-supplied in both years.
