Commodities Overview

Commodities Update

1 December, 2017

China’s November PMIs diverge … again

China’s official and unofficial manufacturing PMIs continued to diverge in November, with the former rising and the latter falling. We tend to put more faith in the unofficial index which shows that growth in the economy is losing momentum. As a result, we expect demand for industrial commodities to soften over the coming months which should weigh on prices.

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