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22 July 2010
Concerns about the resilience of Chinese demand for base metals have become a dominant theme recently and have contributed to downward pressure on sentiment and prices. However, once the latest data from China has been digested, we believe it should provide ammunition for a bullish rethink.
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20 July 2010
Zinc prices are struggling but we still consider weakness to be a buying opportunity.
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20 July 2010
Demand indicators for the base metals market
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20 July 2010
We still expect copper prices to resume their uptrend next year, and possibly as soon as Q4 2010, but there is a risk of lower prices before then, which would be a buying opportunity.
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20 July 2010
Technically, the base metals look fairly bearish in the short term. Fundamentally, however, the situation looks far less bearish, even bullish, especially in the longer term.
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20 July 2010
We are still bullish on lead and would be scale-down buyers into weakness as we expect lead to outperform on the upside in the coming months.
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20 July 2010
The aluminium spot market has become strained as a physical tightness in the USA and short squeezing activity reduces spot supply.
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20 July 2010
Prices are tying to go higher, but resistance above $18,000/tonne is proving to be stubborn at the moment.
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20 July 2010
Sideways trading continues to dominate the base metals. This could turn into continuation patterns, in which case expect further weakness to follow.
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20 July 2010
Prices are still holding up well, despite the fact that pressure is building.
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13 July 2010
The base metals remain in consolidation mode amid thin volumes and a lack of clear direction in trading at the moment.
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13 July 2010
Demand indicators for the base metals market
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13 July 2010
Prices have done well but if they cannot push on further disappointed selling may set in.
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13 July 2010
Overall, we view the base metals as being in consolidation mode. The dominant trends are sideways and downwards.
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13 July 2010
Prices have picked up but we are not convinced yet that they will keep rising.
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13 July 2010
The steady stock drawdown bodes well and prices have shown good levels of dip buying.
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13 July 2010
With a tentative wage deal finally agreed at Sudbury, and with the summer low season arriving, tightness in North America is likely to ease and in turn that might cause prices to fall.
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13 July 2010
Prices continue to move sideways, but at least that confirms that support has been found. If prices fail to recover, there may be some liquidation of stale log positions.