According to Citigroup, metals will continue to fall in price over the next 12 months, due to a drop in demand for them in the world. This conclusion was made by the bank following the results of the annual forum of metallurgical industry LME Week, held last week, reports profinance.ru.

The way metal quotations behave during the forum often determines the direction in which they will move by the end of the year. Last week their dynamics was negative. According to Citigroup analysts, the mood at the trades clearly indicated that prices will decline over the next 6 - 12 months. According to the bank, after the event, its confidence in the correctness of the forecast of the cost of copper for the next 3 months - $7500 per ton strengthened.

During the last months, metals have been losing in price, which was facilitated by the worsening difficulties faced by the global economy, as well as oversupply in the market, the portal writes.