​Base Metals have underperformed since forming lows late last year, early January in relation to their corresponding corporate mining companies. Our international benchmark for the mining sector, the XME M&M index is up +120% per cent whilst Copper has been up +18% per cent, Lead +22% per cent and Zinc +35% into the March/April peaks. This month’s report takes an updated look at the progress so far and attempts to answer these questions – have the base metals conquered overall declines that date back to the February-April ’11 highs or is there still a downside risk? What is the correlation between Base Metals and Emerging Markets? Is the mega-bullish ‘inflation-pop’ outlook compromised in any way?
WaveTrack International provides bespoke intelligence for Asset Management Corporations, Pension Funds, Total/Absolute-Return/ Hedge Funds, Sovereign Wealth Funds, Corporate and Market-Making/Trading institutions. The ‘deterministic’ qualities of the methodology used often translates into results that are dynamic and – outside consensus estimates. This is suitable for individuals who seek unbiased market research which is ‘technical, quantitative and strategic’ for their investment decision making. WaveTrack’s analysis and research is especially relevant for medium/long-term investment strategies.
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