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

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March 2019 | Base Metals


Market Summary: Waiting for brighter demand signals


Base metals have generally had a strong run so far this year, on optimism about an improving macro outlook, and on low stocks and supply disruptions. However, this month the price recoveries are pausing, which is understandable given that current demand conditions remain subdued. We remain quite neutral on the complex at the moment until demand indicators start to improve.

Waiting for brighter demand signals
Base metals have generally had a strong run so far this year, on optimism about an improving macro outlook, and on low stocks and supply disruptions. However, this month the price recoveries are pausing, which is understandable given that current demand conditions remain subdued. We remain quite neutral on the complex at the moment until demand indicators start to improve.

Aluminium: Time to play catch-up

Aluminium has been the laggard of the base metals complex this year, but we wonder whether the risks are shifting to the upside. It has some catching up to do relative to its peers. We would look more to the technical picture than aluminium’s fundamentals to trigger that correction,...

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