To forecast the trend in the price of base metals we have a lot of indicators to look at. Two of the most important indicators to look at in my perspective are capacity utilization and the China manufacturing PMI.
Chart 1: Iron Ore Consumption by Continent |
Chart 2: Iron Ore Production by Continent |
It would be wrong to only look at the capacity utilization of the U.S. to draw any conclusions on the prospects in the commodity market. It's essential to include China, South America and Australia/Canada into the equation.
To read the analysis, go here.
To read the analysis, go here.
Geen opmerkingen:
Een reactie posten