Predictions for hottest commodity in 2012
Posted Dec 23, 2011 7:50 pm.
This article is more than 5 years old.
Copper will be the top performing base metal in 2012 according to a new report from Scotia Capital Markets.
Vice President of Economics Pat Mohr tells 660News one of the drivers behind the forecast is the metals multi-use.
“Copper is used in many household goods, in wiring, in motor vehicles, in power generating and transmission equipment,”
She also says there’s been tremendous growth and demand in the emerging Asian markets as well adding it’s the old story of supply and demand for copper,
“Right now world consumption exceeds refined metal production.” explains Mohr
Meanwhile the forecast for oil in the new year is for strong prices to continue.
Mohr sees an oil price between 95 and 100 dollars U-S per barrel.
