Among the factors leading to strength in commodities in general, and base metals in particular, include:
- Global stock markets are feeling more positive, thanks to eurozone economic sentiment and China’s promise to maintain a growth-friendly economic policy, reports Barani Krishnan and Rebekah Curtis for Reuters.
- Manufacturing in China is picking up the pace, while it’s stabilizing in the United States, writes Angel Commodities for Commodity Online.
- One analyst noted that China alone helped copper gain 15% last month, and 80% overall this year, says Nidhi Sharma for the Economic Times.
- A weakening dollar is adding an extra lift to the demand for major base metals, such as aluminum, copper, nickel, zinc and lead, Sharma notes.
- PowerShares DB Base Metals (DBB): up 57.5% year-to-date
For more stories about base metals, visit our base metals category.
The opinions and forecasts expressed herein are solely those of Tom Lydon, and may not actually come to pass. Information on this site should not be used or construed as an offer to sell, a solicitation of an offer to buy, or a recommendation for any product.