The decline in US aluminum consumption in 2005 involved a great deal of de-stocking. As such, we expect strong buying appetite on any price weakness as order books are looking healthy.
Zinc prices are up on low capacity utilization rates at Chinese zinc smelters due to concentrate shortage, and strong demand driven by galvanized steel.
I think we are still in the early stages of the bull trend in copper. We have years of strong prices ahead of us.
In this situation, where you have strong global growth, constraints on the supply side and a general decline in inventories, prices will continue higher.