May 2012 | Base Metals
Eurozone concerns have returned with a vengeance: Market Summary
Market sentiment is in danger of spiralling lower, and the chances of a significant sell-off have increased markedly in recent weeks. Those metals with the weakest fundamentals are likely to come off worst, but tightness in copper should see dips well supported.
Aluminium: The rebounds from two weeks ago faltered last week and prices are now back testing support. The outlook for demand remains depressed and the political changes in Europe are understandably souring sentiment again, and undermining the euro too. The downside has to be favoured in this environment, until production cutbacks are made. Copper: The toll that renewed European uncertainties are taking on the euro and investors’ risk appetite against an...
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