China stainless steel mogul fights to avoid a second collapse
A debt crisis is threatening the future of one of the world’s top stainless steel producers, Jiangsu Delong Nickel Industry.
Gold, silver and even platinum are on Morgan Stanley’s list of top commodity picks for 2013, according to Kitco that has copy of the report.
Morgan Stanley said that gold is its “preferred fundamental metal exposure” since the company predicts more quantitative easing in the US and Europe. Morgan Stanley believes that gold will average $1,853/oz. Silver should come in at $35.
And platinum looks favourable because troubles in South Africa have depleted supply.
“We expect deficit markets to continue in 2013, with upside benefits for prices. Industrial demand remains firm, and supply is constrained by South African labor issues, reduced sales from Russian stocks and lower recycling rates,” writes the authors of the Morgan Stanley study and predicts that platinum will run at $1,715.
Due to ongoing economic uncertainty, base metals will still have a tough go of it. The sole exception is copper where Morgan Stanley sees low global inventories.
“We are becoming increasingly positive on the outlook for copper’s key end-use sectors in 2013, especially in China,” Morgan Stanley said.
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Comments
silbershark
f**k The Banksters, Buy Silver Phyzz !!!