Macquarie: Fear of missing out drives recent gains in non-ferrous metals

Gelonghui, May 9 | Macquarie’s commodity strategy team wrote in a research report that the fear of missing out may be driving the recent price fluctuations of non-ferrous metals.

Gelonghui, May 9 | Macquarie’s commodity strategy team wrote in a research report that the fear of missing out may be driving the recent price fluctuations of non-ferrous metals.
The US and UK ban on Russian metals and BHP Billiton\’s acquisition of Anglo American could drive bullish sentiment in the short term.
If there is unexpected negative news, this will bring the risk of an overall price pullback.
The agency added that slowing inflation is pushing interest rates to remain high for longer, and also poses risks to prices.
However, Macquarie said that improvement in physical demand may offset a possible fall in prices, while the global services PMI shows accelerated economic growth, creating a healthy environment for risk assets such as non-ferrous metals.

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