untitled design

Industrial metals complex excludes copper contracts – TDS

In the industrial metals complex, Commodity Trading Advisors (CTAs) have turned sellers of Zinc, Lead and Nickel, while Copper sees a continuation of the rally from earlier in the week, commodity analysts at TDS note.

Copper rises, other metals sell off

“In the industrial metals complex, CTAs have turned into sellers of Zinc, Lead and Nickel. Meanwhile, Copper’s failure to see a continuation of the rally from earlier in the week is bringing the market closer to selling trigger once again, with the first key downside momentum trigger located at $9,598/t.

“After briefly covering short positions and building a small net-long position, major traders on the Shanghai Futures Exchange (SHFE) have liquidated positions again, taking the red metal into net-short territory again.”

“With our global commodity demand gauge continuing to weaken, while depressed premiums and rising inventories in the Middle Kingdom argue against a fundamental shortage, there are plenty of potential catalysts that could still see prices ease once again.”

Source: Fx Street

You may also like

Who is the man who shot Donald Trump?
Entertainment
Susan

Who is the man who shot Donald Trump?

Is called Thomas Matthew Crooks and was registered as a Republican voter. According to initial information provided by the FBI,

Get the latest

Stay Informed: Get the Latest Updates and Insights

 

Most popular