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

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June 2019 | Base Metals


Market Summary: Risk appetite has improved


The fact that the US dropped threatened tariffs on Mexico at the weekend has raised hopes that a deal with China is still doable. That, together with more infrastructure-focused policy easing from China at the start of this week, has improved sentiment in the base metals. Strong rallies are under way and we wait to see how sustainable these moves turn out to be.

Risk appetite has improved
The fact that the US dropped threatened tariffs on Mexico at the weekend has raised hopes that a deal with China is still doable. That, together with more infrastructure-focused policy easing from China at the start of this week, has improved sentiment in the base metals. Strong rallies are under way and we wait to see how sustainable these moves turn out to be.

Aluminium: Tentatively bullish

Although LME aluminium remains oversold, it is still vulnerable to further downside pressure if short-term technical support at $1,765 per tonne gives way. That said, we are tentatively bullish here because a great deal of the bearishness has already been priced in. In addition, global exchange stocks have declined by...

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