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domingo, 15 de julio de 2012

Moody's downgrades base metal outlook to negative

SAN FRANCISCO (MarketWatch)
Moody's Investors Service on Friday changed its outlook for the global base metal industry to negative from stable, blaming a slowdown in economic growth
 "Recent economic statistics, including purchasing management indexes for the U.S. and China indicate a contraction in the global economy," said Carol Cowan, a Moody's vice president-senior credit officer, in a statement
 "With China accounting for at least 40% of base metal demand, its purchasing appetite is a key factor in metal price movement."
Base metals prices will remain range-bound, with a bias to the negative, although a broader price collapse as seen in 2008 is unlikely, Moody's said

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