UNITED KINGDOM October 16 2013 7:16 AM
LONDON (Scrap Register): The mood at London Metal Exchange activities last week as hopeful, compared to gloomy in 2012, said Bank of America Merrill Lynch in a research note.
Producers, consumers, traders and financial institutions met to discuss the supply/demand fundamentals in base metals and 2014 contracts.
“Compared to 2012, the mood this year was slightly more upbeat, given the unfolding re-acceleration of growth in Europe, the U.S. and China; the U.S. debt ceiling came up in very few conversations,” they added.
“Yet, market participants also acknowledged supply increases and continued headwinds to growth in emerging markets, which should cap the upside,” Bank of America Merrill Lynch concluded.