HSBC Global Research - Metals Quarterly Q1 2012
Language: English
Date: 24 January 2012
Page: 68

Supply Side Surprises 4
Aluminium: Low expectations 8
Copper: Hostage to sentiment 16
Nickel: Testing the cost curve 24
Zinc: Lacking a positive catalyst 32
Ferrochrome: Off to a bad start 38
Iron ore: Saved by India 44
Coking coal: Prices easing 50
Thermal coal: Chinese cap
limits near-term upside 52
Commodities consumption trends 56
HSBC equity indices performance 58
China demand indicators 59
Disclosure appendix 65
Disclaimer 67