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Base Metals Q1 2019 Review - Outlook For Q2 2019-2019 China(Guangzhou) Int’l Laser Equipment and Sheet Metal Industry Exhibition
4/10/2019 - Laser Equipment, Sheet Metal Industry expo |
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Seeking Alpha reported that base metal prices fell by 23.43% in 2015, but in 2016 they appreciated by 26.77%. In 2017, the sector of nonferrous industrial metals was the best-performing commodities sector posting a 21.99% for the year. In 2018, the industrial commodities shed 15.78% of their value. All of the six base metals that trade on the London Metals Exchange posted gains in Q1 compared to their prices at the end of Q4 2018. The best performing commodity in the base metals sector in Q4 was nickel which rose by 22.8%. Zinc appreciated by 19% and tin rose by 10.2%. COMEX copper futures rose by 11.7% while the LME three-month forward copper contract moved 8.3% higher over the three-month period. The price of aluminum rose by 3.63% while lead was the laggard when it comes to the LME metals as it only posted a 0.74% gain over the first three months of 2019. Meanwhile, the price of iron ore moved 24.81% higher in Q1, but the Baltic Dry Index fell by 45.55% over the past three months.
Base metal prices were higher even though the U.S. dollar index moved 1.16% higher in Q1. Optimism over a trade deal with China likely lifted the prices of the metals which suffered under the weight protectionism in 2018.
China is the demand side of the fundamental equation in the commodities asset class because of their massive population and economic growth. The trade issues have weighed on both the Chinese economy and the prices of industrial commodities. While the sector was over 15% lower in 2018, a trade agreement could cause a significant relief rally as many of the metals that trade on the London Metals Exchange are ground zero for trade issues facing the world. Trade negotiators are hard at work in Beijing and Washington DC to settle the dispute. Time will tell if they are successful, which could lead to further gains in the industrial commodities sector of the asset class
钣金展-激光设备展-2019年广州国际激光设备及钣金工业展
-2019 China(Guangzhou) Int’l Laser Equipment and Sheet Metal Industry Exhibition
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