June 2009 | Steel Raw Materials
12 indications that the worst of the recesssion in the global metals industry is over
MBR has compiled a list of 12 indicators which we believe are important enough to point in the direction of an easing in the recession.
Fund money is back. Investor appetite for commodities, and for risk in general, has returned. LME open interest for most base metals is at multi-year highs, or even record highs in some cases, as investors have increased their long exposure to base metals in a rush to position themselves for the next upleg in the economic cycle, and also to gain a hedge against the risk of inflation and a weaker US dollar.
With the banking sector in the west past the worst of its crisis credit is starting to flow again and the cost of finance is coming down.
Government spending on infrastructure via fiscal stimulus packages announced over the last 6-9 months are starting to have a credible boost...
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