Will Base Metal Market Improve in October?

It is a traditionally peak demand period for base metal market in September

BEIJING (SMM): It is a traditionally peak demand period for base metal market in September and October. However, market conditions did not get improved over the past September. 

Will base metal market improve in October after high consumption failed to materialize in September? 

“At the macro front, the Chinese story is not a great one for base metal market”, said an analyst from COFCO Futures, citing the sluggish property market and the lack of fresh stimulus measures. 

A strengthening dollar will also put a downward pressure on base metal market, he added in SMM’s latest interview. 

“Market fundamentals, however, will paint different pictures for different products”, he added. 

The copper market will see supply pressures growing in response to capacity expansion and high TCs, and this will send copper prices lower, while possible supply disruptions in aluminum and zinc market will help support the two markets, the zinc market in particular, he told SMM.  

Courtesy: www.metal.com

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