Market Summary: Risk appetite should improve this week

Risk appetite should improve this week
The latest reports about progress towards a US-China trade agreement suggest that a phase one deal is back on track. If history is a guide, interest in risk assets, including the base metals, should rebound while this remains the case. Equity markets have led the way so far.

Aluminium: Looking for a short-term rebound

Aluminium’s price action is demonstrating consolidation overall. And while it continues to trade above the uptrend line off October’s low of $1,705 per tonne, we envisage more short-term upside pressure will emerge, especially if a phase one trade deal between the US and China continues to edge...