Barclays Lowers Metal-Price Estimates

Barclays PLC

lowered its forecast on metals prices for 2012 and 2013. Barclays lowered its 2012 average price forecast on London Metal Exchange cash price copper by 6% to $8,120 per metric ton, and cut its 2013 forecast by 8% to $8,450/ton. The bank also lowered its 2012 forecast for tin by 12% to $21,251/ton. Barclays lowered its 2013 forecast for zinc by 22% to $2,175/ton. The bank now projects gold to average $1,672 a troy ounce in 2012. It projects gold to average $1,750/oz in 2013. Barclays shares closed at $10.25 yesterday.