Metals Chart Book

5 June, 2018

Metals shrug off strong dollar

For the most part, metals prices rose in May despite the dollar appreciation. Robust demand and tighter supply buoyed the prices of aluminium, nickel and lead. However, we still think that slower credit growth in China will weigh on activity and industrial metals prices later this year. At the same time, we think that Fed tightening will prove a strong headwind for precious metals.

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