RBS Lowers Metal-Price Estimates

Royal Bank of Scotland PLC RBS cut its estimates on metals. The bank lowered its average price forecast for copper by 4% to $8,040 per metric ton, and its aluminum forecast by 5.5% to $2,395/ton. RBS also cut its 2013 forecast for copper by 1.4% to $8,700/ton and its aluminum forecast by 3.0% to $2,400/ton. It now projects gold to average $1,690 a troy ounce in 2012. RBS shares closed at $6.39 yesterday.