Quarterly Metals Report
In-depth analysis and price forecasts for base, precious and ferrous metals
Our quarterly metals report provides expert analysis and price forecasts for base, precious and ferrous metals, providing metal industry participants with actionable insights.
This in-depth report includes reviews of the macroeconomic environment and outlook for the global economy, central bank activity, analysis of manufacturing PMIs and geo-political influences.
Report highlights are also presented at our quarterly metal market webinars by our research team and an expert from our industrial commodities team, providing broker insights.
Quarterly Metals Report – Q4 2024
As we head into Q3 2024, the markets are dealing with a different reality than what was initially expected at the beginning of the year. Political uncertainty has gripped the US and Europe due to national elections, raising questions about relationships within these countries. With Biden stepping out of the US Presidential Race, all eyes are likely to stay focused on the US until November. Additionally, there is a growing case for an increasing number of interest rate cuts this year, with major banks expected to start the cutting cycle by the end of this quarter.
While this should help alleviate some of the pressures felt by the commodity space, China's muted economic performance is weighing on the base metals’ narrative. In July, China's highly anticipated Third Plenum did not result in any concrete changes to the fiscal policy support, capping price performance in the meantime. From September onward, we expect macroeconomic factors to relieve some of the pressures on the commodity market, leading to a modest increase in the latter part of Q3. We expect Q4 to bring greater market volatility.
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