Wednesday, November 20, 2013

Bottom For Key Base Metals Approaching: Scotiabank’s Mohr

“I think we’re approaching the bottom in this cycle…I’m hoping that we’ll see the bottom for some of the key base metals in early 2014,” Scotiabank’s commodity market specialist Patricia Mkohr told delegates at the recent Mine Latin America conference…she’s particularly bullish regarding Zinc…“I think Zinc will be the next big base metal play because of mid-decade mine depletion around the world and because of probable smelter bottlenecks developing in China,” she stated…“It’s something the juniors should look at and get involved in”Mohr is also generally bullish on the prospects for China…an important factor that will have an indelible effect on commodities through the balance of the decade is the on-coming surge in China’s vehicle ownership, Mohr stated, which stood at just 81 vehicles for every 1,000 people in 2012…this compares with the U.S. figure of 794 cars for every 1,000 people…“I guarantee that everyone in China wants to own their own motor vehicle…they are tripling the number highways to allow greater vehicle ownership…this is going to be a great growth sector…it’s very metal intensive and very gasoline intensive”

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