Copying and distributing are prohibited without permission of the publisher
LORD COPPER: Optimism about 2014 looks a little overdone
December 23, 2013 - 15:21 GMT
Veterans of many cycles have no real expectation for anything other than a dull, static year. Many analysts though are beginning to talk of a more positive tone appearing, with prices ticking upwards. But are they being overoptimistic?
Among the people I talk to, there seems to be a bit of a
polarisation: the gnarled old veterans of many cycles tell me
mostly that they have no real expectation for anything other
than a dull, static year. Many analysts, though – and
regular readers will be aware of my sympathy for those who have
to make a profession of forecasting – are beginning to
talk of a more positive tone appearing, with prices ticking
upwards. Can we be optimistic? Looking first at the second
position – that next year should see strengthening
metal markets – there is, for sure, some logic
supporting it. First, although QE will have to come to an end
at some point, it seems that the current US administration
(presidency or Federal Reserve) lacks the political courage to
go too far, too fast. Instead, after several threats to taper
off bond buying that drove the...
All material subject to strictly enforced copyright laws. ©
Euromoney Institutional Investor PLC.
Please log in using your online subscriber details.
Your username will be your registered email address with Metal Bulletin.
If you aren't a subscriber yet, feel free to take a seven day free trial, or subscribe using the instructions below.
A standard subscription include one year's worth of news and prices. You can also upgrade to the full archive and benefit from more than 15 years of intelligence. Start your subscription today.
Taking a free trial will give you open access to Metal Bulletin online news, prices, archived content and email alert service for the next seven days. Start your free trial today.