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

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November 2019 | Base Metals


Market Summary: Cautious optimism


LME Week 2019 revealed only cautiously optimistic sentiment toward the base metals, with concern over the recession in manufacturing, along with the US-China trade situation, casting the main clouds over the outlook. Base metal prices are therefore likely to remain particularly sensitive to economic releases and news flow regarding trade negotiations.

Cautious optimism
LME Week 2019 revealed only cautiously optimistic sentiment toward the base metals, with concern over the recession in manufacturing, along with the US-China trade situation, casting the main clouds over the outlook. Base metal prices are therefore likely to remain particularly sensitive to economic releases and news flow regarding trade negotiations.

Aluminium: Rebound, but limited upside

We have been making the case for some time for a short-term rebound in aluminium prices, mostly on technical grounds and fuelled by short-covering. That rebound has now materialized. However, our thesis also included the view that the rebound would be capped and constrained in the descending-triangle pattern that has dominated trading all year. That leaves little left on the...

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