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Chinese New Year could increase steel consumption
The Chinese New Year is only a week away, taking place from 11 to 17 February, usually a sacred period for family unions. But unlike other years, this year migrant workers in China's major urban centres will be encouraged by the central government to stay where they...
Commodity Insight – Copper
As written in the January 26th post, copper prices could have broken down through the support at $7800 and they did. UpDate - After reaching the highs of 2012 in the $8237/mt area, copper prices have started a downward spiral, included in a descending channel that may...
Commodity Insight – Copper
The copper settles in a narrow range between $8230 and $7800. The negative divergence of the MACD indicator suggests a loss of strength in the metal, which could extend a possible correction below $7800 towards the wider targets in the $7700 and $7400 area. The medium...
Commodity Insight – Aluminium
The strong rally in aluminium that started in March last year is slowing down slightly. However, prices are above all major dynamic supports (200- and 50-week moving averages). Last week's pullback may have triggered a new upward impulse with short-term targets in the...