November 2019 | Base Metals
Market Summary: Still hostage to trade talk news
News flow regarding progress, or lack thereof, in US-China trade negotiations continues to determine the mood in the base metals and remains the main source of week-to-week volatility.
Still hostage to trade talk news
News flow regarding progress, or lack thereof, in US-China trade negotiations continues to determine the mood in the base metals and remains the main source of week-to-week volatility.
Aluminium: Consolidating after short-covering
Following a strong week of price gains last week, aluminium has moved into consolidation mode after finding technical resistance and after optimism over a phase one US-China trade deal faded. To unlock more gains, prices now need additional buying pressure to overcome the nearby technical resistance levels, but that would probably need trade deal optimism to return, which may only be a tweet away. Otherwise, aluminiums focus could swing to retesting the October...
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