Dollar weakness in the past three days has indeed been a key driver of the copper price rise.
Exits from the baskets could have a disproportionately larger impact on the less-liquid metal markets.
Mine supply in zinc remains very constrained. Zinc is the one metal that deserves a re-rating based on physical demand and supply characteristics alone.
Oil has been a key driver because it's a big part of the commodity baskets like Goldman Sachs index. Oil is making these baskets perform, which is making people buy the baskets.
People are positive on the demand side of these metals as the global economy grows. Falling inventories also help.
The economic background to metals is therefore supportive, but metals also have the additional price driver of extensive activity by investment funds. Ongoing investment into commodities by broad-based global funds remains very strong.
The real demand source is China, rather than Europe, but the country is rapidly alleviating its raw materials input problems.
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Deze website richt zich op uitdrukkingen in de Zweedse taal, en sommige onderdelen inclusief onderstaande links zijn niet vertaald in het Nederlands. Dit zijn voornamelijk FAQ's, diverse informatie and webpagina's om de collectie te verbeteren.