Dim global growth forecast fails to deter metals investors
Market is beginning to turn its focus towards rising demand for key metals, slower production
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NOT even the dimming global growth outlook is enough to scare away investors in metals and mining.
Money is pouring into industrial metals and the companies that produce them. Those investors seem undeterred by World Bank and International Monetary Fund (IMF) forecasts of sluggish economies after the UK's decision in June to leave the European Union added to uncertainty. The enthusiasm for metals comes as expectations mount that policymakers around the world will take stronger action to counter the slowdown. The market also is beginning to look beyond Brexit and turn its attention towards the rising demand for key metals and slower production. Copper, zinc and nickel are pointing to tighter supplies, Commerzbank AG said in a report last week.
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