MARKET TALK: Base Metals Outlook Bullish For '07, '08 -Numis

Continuing firm global GDP growth, strong metal imports into China amid ongoing industrial and economic growth, and restocking of very low inventories by consumers, provide a bullish tone to base metals in '07 and '08, says Numis Securities analyst John Meyer. Notes some recovery in the US housing market and steady economic growth in Europe. Upgrades '07 copper price forecast to $2.50 a pound from $2.20/lb and hikes '08 estimate to $2.20/lb from $2/lb.