FACTBOX-Revisions to base metal price forecasts
August 10 (Reuters) - Base metals prices have surged this year as positive expectations of a global economic recovery, combined with fund and Chinese buying, helped boost prices.
Copper has gained about 100 percent in 2009, while aluminium has climbed around 30 percent despite the latter's London Metal Exchange inventories remaining at record levels.
Detailed below are some of the revisions and forecast price changes of base metals traded on the LME.
ROYAL BANK OF SCOTLAND (August 7)
* "Once real demand recovers alongside an upswing in the business cycle in 2010, restocking through the depleted manufacturing supply chain is likely to accelerate demand growth, and supply and demand fundamentals will once again drive the metal markets."
* "Should risk (appetite) continue to rally into Q4 metals will undoubtedly be swept higher, but there could still be a correction should risk sell off."
* Forecasts copper at $4,200 a tonne in 2009 and $5,500 a tonne in 2010.
* Sees aluminium at $1,550 a tonne in 2009, and $1,875 next year.
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