London, 13 October 2009 

Standard Bank Plc launched their 2009 Base Metals report yesterday at the annual Standard Bank LME Luncheon at Guildhall, in celebration of London Metals Week which began on Monday. 

In his introduction speech at Guildhall today Jim Coupland, Managing Director for Global Base Metals at Standard Bank said, “Last year’s report summed up the evolution of the markets over the past twelve months fairly accurately.  This year we believe that there will be an uneasy and potentially fractious transition from recession to recovery into 2010. 

While the first half of 2010 may disappoint as the market waits for the recovery to kick into gear, 2010 may also be a good entry point for investors looking ahead to 2011.”  

Further commenting Leon Westgate, metals analyst at Standard Bank said, “We don’t expect there to be an easy path to the strengthening of metals prices, and much still depends on availability of credit and the general public’s willingness to spend. 

Overall, the improving economic outlook, the resumption of base metal demand, and continued inflows of capital into commodities will be the main trends for the coming year and are themes that will have a positive effect on metal prices into 2010.” 

Ends --

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