Copper still growing..: RBC
RBC has tipped copper prices to rise in the year ahead, while iron ore comes back to earth.
Analysts at the bank say the market was risk off in May as trade talks fall apart, June was risk on following dovish comments from global central banks, while July will be all about the G20 meetings.
“Looking through the week to week gyrations, we believe we are in a slower growth phase; however, we are constructive on base metals as we believe a lot of the macro downside is priced in while physical markets remain relatively tight and we forecast rising prices into 2020,” RBC says.
And while copper rallies, the bank says iron ore looks unsustainable.
https://www.theaustralian.com.au/business/trading-day/trading-day-australian-stocks-set-for-more-falls-as-markets-await-trade-talks/news-story/6e752c630b80c98c78a4a87397a1281c?keyevent=2.57pm
