Research

Forecasts and market analysis based on price assessments from Fastmarkets MB and Fastmarkets AMM

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July 2018 | Base Metals


Market Summary: Time for bargain hunters?


Metal prices have been pushed lower again by the general risk-off climate surrounding trade wars. With US tariffs now in force against $34 billion of Chinese exports and with China imposing tariffs on US imports, we wait to see whether the ante is upped. Given the extent of the price damage across the metals already, a lot of the negative news is probably already discounted and these lower prices should encourage bargain hunting. That said, buyers may not be in any hurry to take action unless they start to see prices recover.



Click here to view the LME price forecast summary
Aluminium: Steadying around $2,100 per tonne
Aluminium prices appear to be steadying around $2,100 per tonne, having unwound virtually all of the Rusal sanctions rally that reached $2,587 / tonne on April 19. The level that the consolidation is taking place at present coincides with our recently-revised base case Q3 forecast.

Copper: Is the copper bull dead?

As copper prices finally seem to have found a floor and attempt to rebound, we take a step back in this week’s analysis to look at the long-term picture and share...

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