Analysts at TD Securities explained the current conditions surrounding the commodities.
Key Quotes:
- “Zinc rallies amid stronger fundamentals and as global inventories continued to draw, while sources of new supply show signs of delays.
- Energy markets, led by heating oil and Brent crude, continued to strengthen as sanctions on Iran approach, while signs emerge that Middle Eastern tensions could come to a boil.
- Copper declined, despite inventory draws, amid weakening demand sentiment and a fragile CNY.
- Nickel underperformed the commodities complex, as it struggles to regain its “electrified” status given growth concerns in China.”
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