An optimistic opening

The year starts off with optimism, in sharp contrast to what was a precarious start to 2009. Last year, many considered survival as the measure of success as we witnessed: battered financial statements; a credit squeeze; the near-desertion of our industry by the credit insurance industry; and our economies' dependence on governments to provide funding to keep our markets afloat.  Generally speaking, it's hard to find anyone overly pessimistic about 2010, but whether that's based on wishful thinking or economic metrics depends on the source.

There is no doubt among most industry participants that the strong showing in the metals commodities sector has far outpaced the improved economic conditions evident in many parts of the world. Low interest rates have fueled not only higher rates of GDP growth around the world but also increased speculation. 2010 will no doubt be another year of extremes.

2010 also brings the expiration of many members' AQSIQ licenses. BIR is, and will continue to be, in close contact with that Chinese agency as the year progresses, with an eye to facilitating a fluent renewal process so that consumers in that country will not suffer any supply and production disruptions.

I wish you all the very best for the year. 

Seethe monthly world wide market update in our Members only section withreports from key countries.