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Metals prices to recover, despite headwinds

We remain broadly positive on the outlook for most industrial metals prices in 2015-16 as we expect demand to pick up in the second half of this year and believe that some metals in particular may face tightening supply. But we are revising down a number of our end-year price forecasts this month to reflect the lower starting point, as well as uncertainty surrounding prospects for the euro-zone and the challenges faced by the Chinese authorities.

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