JP Morgan says an end to Chinese credit stimulus will result in price declines for copper, aluminium and zinc over 2021.
Analysts at the bank led by Natasha Kaneva noted in a report on Wednesday December 16 that demand risks in main consumer China would likely outweigh the recovery expected across the rest of the world next year."While we think prices could have further to run in early 2021 as upside momentum is maintained amid expectations of a $1-trillion stimulus package out of the US, the Chinese credit cycle has peaked earlier than we were expecting," the...