BASE METALS

Base metals rally just another dead cat bounce?

BASE metals seem to be approaching a fork in the road, with ICBC Standard Bank saying prices could climb through a period of consolidation, but there was still the likelihood of significant risks pushing prices lower.

Forecast aluminium deficits have been trimmed, as have ICBC Standard Bank's price forecasts. Image: iStock/happylemon

Forecast aluminium deficits have been trimmed, as have ICBC Standard Bank's price forecasts. Image: iStock/happylemon

The bank's commodities strategist Marcus Garvey said in a note Friday that price forecasts had been revised lower across the board to reflect a mark-to-market exercise rather than supply-demand model changes. ...

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