The metal will average $16 a pound ($35,273 a ton) in the six months to December, Heap and Tonks forecast.
The increased estimate is due to a ``squeeze'' on the LME as hedge funds are driving prices higher by speculating against miners that have sold forward their production to protect themselves against price swings, the analysts said. The price will average $10 a pound in 2008, and $8 in 2009, according to the report. --------------------------- My question: How have these guys been at their predictions for the past year? Most of the big house predictions I've seen were way behind the curve last Fall.
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