Supply closures in metal markets are buoying sentiment. However, they will still offset the hit to demand, opening up risks of another selloff, per ANZ Bank. Key quotes “Sentiment in the base metals sector is rising on signs of the pandemic easing. However, the market has been getting excited about the growing list of mine closures around the world.” “Lockdown measures in key mining regions, such as South America, are being joined by price-induced closures in Africa. Glencore will close its Mopani copper mine in Zambia due to low prices.” “We see these supply-side disruptions doing little to offset the amount of demand lost due to the weakening economic backdrop.” FX Street FX Street FXStreet is the leading independent portal dedicated to the Foreign Exchange (Forex) market. It was launched in 2000 and the portal has always been proud of their unyielding commitment to provide objective and unbiased information, to enable their users to take better and more confident decisions. View All Post By FX Street FXStreet News share Read Next Crypto Today: Bitcoin’s bull trend back on track, $8,000 by the end of the week? FX Street 2 years Supply closures in metal markets are buoying sentiment. However, they will still offset the hit to demand, opening up risks of another selloff, per ANZ Bank. Key quotes “Sentiment in the base metals sector is rising on signs of the pandemic easing. However, the market has been getting excited about the growing list of mine closures around the world.” “Lockdown measures in key mining regions, such as South America, are being joined by price-induced closures in Africa. Glencore will close its Mopani copper mine in Zambia due to low prices.” “We see these supply-side disruptions doing little to offset the… Top Forex Brokers All Brokers Sponsored Brokers Broker Benefits Min Deposit Score Visit Broker 1 $100T&Cs Apply 0% Commission and No stamp DutyRegulated by US,UK & International StockCopy Successfull Traders 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 2 T&Cs Apply 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 3 Recommended Broker $100T&Cs Apply No deposit or withdrawal feesTrade major forex pairs such as EUR/USD with leverage up to 30:1 and tight spreads of 0.9 pips Low $100 minimum deposit to open a trading account 9 Visit Site FreeBets ReviewsYour capital is at risk. 4 T&Cs Apply Visit Site FreeBets ReviewsYour capital is at risk. 5 Recommended Broker $0T&Cs Apply Trade gold, silver, and platinum directly against major currenciesUp to 1:500 leverage for forex trading24/5 customer service by phone and email 9 Visit Site FreeBets ReviewsYour capital is at risk.
