(Jack Farchy & Mark Burton – Bloomberg)
Global growth is on a tear, and that can only be positive for metals prices.
That’s the message coming from the industry ahead of LME Week. For the first time in years, optimism is widespread among traders, smelters, miners and brokers gathering in London, buoyed by a combination of strong growth across the world’s key demand centers, supply curbs in China and a return of investor interest.
“The global economy looks much better than it has done probably since the crisis, maybe before that,” said Saad Rahim, chief economist at Trafigura Group Pte, the second-largest metals trader. “I’m pretty bullish.”
The upbeat mood shows how much has changed in two years, when the commodities collapse brought the titans of mining to their knees. Click here to read more.