Market Summary: Expect more ebb and flow in risk sentiment

Expect more ebb and flow in risk sentiment
The run up in prices at the end of last week was triggered by hopes that a US-China trade deal may be arranged before too long. We have seen this before as hopes are briefly raised. But, once again, the improvement in sentiment was short-lived. However, it is a reminder of how metal prices are being held down by risk-off sentiment in large part due to ongoing trade tensions. After a long period of price weakness and with speculative positioning underweight, a more sustainable rebound in risk appetite could have a meaningful and long lasting effect on metal prices, especially for those where the fundamentals are strongest, such as copper, nickel and lead.

Aluminium: Slipping away

Aluminium prices are consolidating ahead of the...