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

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July 2019 | Base Metals


Market Summary: Macro themes starting to be less of a drag


Expectations of monetary easing by the Federal Reserve and better-than-expected Chinese economic data are supporting the base metals by helping the weaker ones to build bases and the more buoyant ones to push on. If the macro backdrop can remain a more positive influence instead of the negative force it has been for some months now, we should see the base metals make some headway on the upside this quarter.

Macro themes starting to be less of a drag
Expectations of monetary easing by the Federal Reserve and better-than-expected Chinese economic data are supporting the base metals by helping the weaker ones to build bases and the more buoyant ones to push on. If the macro backdrop can remain a more positive influence instead of the negative force it has been for some months now, we should see the base metals make some headway on the upside this quarter.

Aluminium: Uptrend might not last

As long as the aluminium price remains within the ascending wedge-like pattern that has guided the market from the $1,750 per tonne region in mid-June to around $1,850 per tonne in mid-July, then further modest gains are likely in...

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