The aggregate supply of the metals copper, lead and nickel on world markets in the period 2010-2012 will be less than demand, according to a forecast of the French bank BNP Paribas. It is estimated that the bank this year, the shortage of copper on world markets will be 50 000 metric tonnes in the next to reach 400 thousand metric tons, but in 2012 will be reported a decline to 150 thousand tons. Copper production this year in the world is estimated at 18.75 million tonnes for 2011 are expected 19.45 million tons and in 2012 – 20.75 million tonnes of consumption for three years, according to experts the bank will accordingly be 18.8 million tons, 19.85 million tons and 20.9 million tons. The shortage of lead in world markets this year is estimated at about 17,000 tons, and the next expected shortfall of 20 000 t. In particular, production of lead, according to forecasts of BNP Paribas, in 2010 is 327 thousand . t, and next year will increase to 340 thousand tons, however, sought for this year will be 344 thousand tons and for 2011 – 360 thousand tons. The deficit of nickel on world markets this year is expected to be around 75 000 tons. On the other hand, sought after excess supply of aluminum in the global market by 2012 is expected to have a balanced picture.
Read the full story

The French Government announced on Friday a new tax increase amounted to 3.5 billion in 2011, reported Financial Times. The total increase in tax revenue next year will reach 13.2 billion, ahead of Germany’s program to reduce the budget deficit amounting to 11 billion euros in 2011. Revenue from the increase, however, retreated to the increase in VAT by 2,5 percentage points in Britain next year, which is expected to bring 12.1 billion pounds (14.7 billion). The series of tax increases to reduce budget deficit expected for this year’s 8 percent of GDP to 6% in 2011 as promised to the European Union (EU). The plans are based on forecast economic growth of 2.5 percent next year, the International Monetary Fund (IMF), the EU and many economists are optimistic about. The last tax increase should reassure the financial markets, but not cause panic in society. Earlier in the month the French government announced increased taxes on business and the rich worth 3.7 billion euros to help fill the deficit in the pension system. Paris still hopes to collect 1 billion in 2011 from the new bank tax.
Read the full story