Report
Base metals and Iron ore outlook 2019-2020 (LME week update)
Macroeconomic outlook : W eaker dollar and a slowdown in the Chinese economy (with support from economic stimulus preventing a collapse ). Aluminium: H2 2019, lower prices on the back of resumption in Alunorte production and the market entering a surplus. Copper: Supply demand fundamentals remain to the upside and should driver prices higher in 2019 Nickel: Market to rupture as grade one nickel demand continues to grow on the back of the EV revolution while grade two nickel enters in to surplus. Zinc: Bullish on H1 as inventories remain low and Chinese refinery output drops. Iron Ore: Spreads between high and low grade ore widen and Chinese opts for high grade.
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Natixis
Based across the world’s leading financial centers, Natixis CIB Research offers an integrated view of the markets. The team provides support to inform Natixis clients’ investment and hedging decisions across all asset classes.
Bernard Dahdah
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