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Improved tariff expectations combined with inflation support lead to rising Copper prices and gold prices reaching new highs.
Summary: Last week, the tariff issues continued to ease, and both China and the United States expressed a willingness to engage in dialogue on tariffs under certain conditions. Market risk appetite has improved, and the focus is on whether there will be further substantial actions in the future.
In one article, understand: What information did the National Bureau of Statistics reveal in the March data?
According to data from the National Bureau of Statistics, in March, the production of Steel, Steel products, caustic soda, raw coal, coke, and Crude Oil Product all recorded a year-on-year increase, while Glass production decreased compared to the previous year.
Citi maintains a bearish stance on Copper prices but expects the downturn to slow down: tariff easing and China's demand support the Copper market.
Citigroup adjusts its Copper price forecast: short-term decline is easing but will remain significantly pressured in the medium term.
Commodity Prices Forecast to Fall in Coming Quarters, Weighed Down by Tariff Volatility, Westpac Says
Base Metals Mixed; Copper Gains But Growth Risks Remain -- Market Talk
Base Metals Rise on Moderate Tariff Relief but Prices Still Muted -- Market Talk