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Global metals demand to improve in 2011 - HSBC

Published Date: March 08, 2010
Source: reuters.com

Demand for global metals should improve radically between now and next year, due in large part to bulk consumption by Chinese infrastructure projects, a top strategist for HSBC metals said on Sunday.

Andrew Keen, head of metals and mining equity research for Europe, the Middle East and Africa for HSBC Securities Inc, told the annual Prospectors and Developers mining conference in Toronto (PDAC) that the shape of Chinese stimulus spending in massive projects will help global metals demand grow 6.6 percent this year. "It's reasonable to assume in our view that we're about half way through the downturn and that markets should start to radically improve in terms of fundamentals at some point in 2011," Keen said of the global commodities outlook.

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