|Base Metals||Copper Aluminum Lead Zinc Tin Nickel|
|Minor & Precious Metals||Precious metals Manganese Silicon Cobalt Selenium|
|Scrap & Secondary||Scrap and secondary copper Scrap and secondary aluminum Secondary lead & zinc|
|Steel||Slab Finished steel Crude steel|
|Raw Materials||Ferroalloy Iron ore Coke Scrap steel Pig iron|
|Iron Ore||Spot Price Output Import Volume Export Volume|
|Scrap||Import Volume Export Volume|
|Pig Iron||Output Import Volume Export Volume|
|Finished Steel||Shanghai Output Import Volume Export Volume|
|Ferroalloy||Output Import Volume Export Volume|
|Crude Steel||Output Import Volume Import Volume Export Volume|
|Copper||Refined Copper Yangshan Copper Premium|
|Aluminum||Aluminum ingot Alumina Bauxite ADC12 ZLD102 A356 Prebaked Anode|
|Lead||Lead Ingot TC/RC Secondary Lead Lead Powder Lead-antimony Alloy|
|Nickel||Refined Nickel Laterite Nickel Ore NPI Nickel Powder Nickel Oxide|
|Zinc||#0 Zinc Ingot #1 Zinc Ingot TC/RC Zinc Oxide Zinc alloy|
|Tin||Tin Ingot Tin Concentrate Tin Powder Tin Alloy Solder Bar|
|Rare Earth||Ce Dy Er Eu Gd La Nd Pr Sm Tb Y|
|Minor Metals||Manganese Silicon Minor Metals|
|Precious Metals||Gold Silver Platinum Palladium Ruthenium Rhodium Iridium|
|Scraps||Scrap Copper Scrap Aluminum|
Tags: Goldman Sachs
UNITED KINGDOM October 20 2013 4:32 PM
LONDON (Scrap Register): Goldman Sachs cut its price targets for aluminum to $1,800, $1,750 and $1,750 per metric ton on a three-, six- and 12-month horizon. The bank previously looked for $1,850, $1,900 and $2,000, respectively.
“Driving these aluminum forecast revisions is the lack of a sufficient supply response to low and declining prices, which we believe is the result of a sharply declining cost structure driven by weaker coal and power prices,” Goldman added.
“At this point, we no longer believe supply curtailments will create a shift in the balance significant enough to generate a turn in the cycle within the next 12 months,” Goldman concluded.
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