Citi Sees Iron Ore Prices To Hit $120/T, Copper To $10,500/T In Coming Weeks
Oct 7 (Reuters) -CITI:
SEES IRON ORE PRICES CLIMBING TO $120/T AND COPPER TO $10,500/T IN ITS BASE CASE IN THE NEXT COUPLE OF WEEKS
SAYS POTENTIAL TRUMP TARIFFS AND WEAK EUROPEAN GROWTH AND SLOWING US ACTIVITY ARE MAJOR CONCERNS THAT IN OUR BASE CASE KEEP A LID ON PRICES BEYOND A CHINA-FUELED RALLY IN THE NEAR TERM
SAYS FOLLOWING SEPTEMBER’S CHINA'S STIMULUS U-TURN AHEAD OF THE HOLIDAYS, WE EXPECT POLICYMAKERS TO SUPPORT THE MARKET AND SENTIMENT FURTHER WITH THE ANNOUNCEMENT OF ADDITIONAL MEASURES
SAYS WE THINK DETERIORATING US LABOUR DATA (AND OTHER ECONOMIC MEASURES) WILL BE A HEADWIND FOR BASE METALS UNLESS THE FED GETS AHEAD OF THE CURVE ON RATE CUTS
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