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Investors neutral on copper; emerging market currency weakness hits metals - Deutsche Bank
September 02, 2013 - 11:42 GMT
Investor positioning in copper has returned to neutral, signalling the end of a short-covering rally, analysts at Deutsche Bank said in a note on Monday September 2.
"We think better-than-expected data out of China may be the
next catalyst, but our preference remains for metals where
over-capacity is less of an issue, hence our preference for
copper and zinc, over nickel and aluminium," they said.
Meanwhile, financial and economic weakness in emerging markets
could have an impact on commodities, according to the analysts.
"Weakness across a number of emerging market countries poses
risks to the commodities outlook in our view," they said. "[For
example], the combined GDP of Brazil,...
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Euromoney Institutional Investor PLC.
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