April 8 (Reuters) - Citigroup raised its price forecasts for a host of metals, including aluminium and copper, saying many commodity prices have hit new highs in recent weeks, driven largely by investment inflows, despite the economic slowdown.
Investments in commodity indexes increased by $40 billion, equal to the total increase in 2007, the brokerage said in a note to clients.
The brokerage said it remained "cautious" on the metals and mining sector , given the slowing economies.
"To generate performance we would look to stocks with value and volume growth: Xstrata, Ferrexpo and Anglo," Citigroup said.
The following table shows changes to commodity price forecasts: Metals RIC Unit Price Forecasts
New Old Aluminium$/LB 1.32 1.20 Copper $/LB 3.56 3.10 Nickel $/LB 12.5 10.5 Zinc $/LB 1.05 1.04 Lead $/LB 1.18 1.13 (Reporting by Bhaswati Mukhopadhyay in Bangalore; Editing by Amitha Rajan)
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