August 31, 2018 / 1:09 PM / in 2 years

BUZZ-CIBC cuts 2018-19 copper, zinc outlook on increased trade worries

    ** CIBC sees near-term concerns for the mining sector;
lowers copper and zinc forecasts on slower demand due to the
trade barriers and tariffs
    ** Cuts 2018-2020 forecast for Cu and Zn; cuts PTs of miners
    ** However, CIBC raises its 2018-2020 metcoal, molybdenum
and nickel forecasts, despite similar squeeze in demand as it
sees tighter supply and rise in all-in cost of production 
    ** Raises 2018-2020 hard coking coal forecast to
$198/$160/$140/tonne, from $188/$137.50/$120, and nickel
forecasts to $6.24/$6.50/$7/lb, from $5.99/$5.75/$6/lb     
    ** Sees easing of trade barriers and global growth in 2020
    ** Benchmark copper on the London Metal Exchange was
down 0.63 pct to $6,028/tonne and nickel was down 1.54
pct at $13,080/tonne while zinc was up 1.36 pct to
$2,501/tonne by 12:43 GMT
    ** PT changes:
 Company Name                          New PT      Old PT
 Freeport-McMoRan Inc                  $19         $20
 Capstone Mining Corp                  C$1.40      C$1.80
 First Quantum Minerals Ltd            C$18        C$20
 Hudbay Mineral Inc                    C$10        C$12
 Imperial Metals Corp                  C$0.60      C$0.90
 Lundin Mining Corp                    C$9         C$10
 Teck Resources Ltd                    C$44        C$46
 Turquoise Hill Resources              C$5.10      C$5.30
 Trevali Mining Corp                   C$1.40      C$1.90
 (Reporting by Shanti S Nair in Bengaluru)
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