May 2018 | Base Metals
Market Summary: “On hold”
The main news of the past week that potentially impacts all the base metals is that the US-China trade war is being put “on hold,” but markets are treating the news cautiously at the moment, and rightly so. It does have the potential though to reduce some key risks threatening global growth and weighing on sentiment in the base metals. A pickup in economic data would be another supportive factor for metal sentiment, as would an end to the US dollar’s rally.
On hold
The main news of the past week that potentially impacts all the base metals is that the US-China trade war is being put on hold, but markets are treating the news cautiously at the moment, and rightly so. It does have the potential though to reduce some key risks threatening global growth and weighing on sentiment in the base metals. A pickup in economic data would be another supportive factor for metal sentiment, as would an end to the US dollars rally.
Aluminium: Adjusting well
Consumers are focusing on diversifying sources of supply to mitigate sanction-related risks, and the Chinese aluminium market which is oversupplied offers an easy solution. The nearby LME backwardation has flared and should attract more inflows. As such, the...
ACCESS RESTRICTED
You must be a paid subscriber to view the full content.
Content over 60 days old can only be accessed by subscribers.
Call +44(0)20 7779 8000 with your credit card details or subscribe online.
SUBSCRIBE
Receive unlimited access to all current and archive content going back to 2008 including downloadable pricing data and forecasts. Plus download the latest issue as soon as its published.
Subscribe