This is no doubt a bullish factor. Copper, lead and zinc are the three metals that are suffering supply disruption from strike action.

201

Should the global economy suffer a period of slower demand, which is a distinct possibility given rising interest rates, a slowing housing market and high debt, then the demand profile on the metals could suffer. In turn, these lofty metal prices would then look out of place.

201

At some stage the fundamentals will become influential again, but while the funds are willing and able to buy commodities, you have to accept that their patronage is the most influential aspect in the market and will remain so until something knocks them from their current thinking.

200

Overall the sentiment in the metals is still very bullish and it is hard to see this changing in the near term.

194

With China now back in the market after the New Year, there was some catching up in early trading on Monday.

183

With the physical trade still quiet because of the summer slowdown, the markets seem to be at the whim of the funds, so more exogenous issues such as the equities, oil, bonds and the dollar, or any other event that impacts the funds, needs to be watched closely.

162

On the surface, the base metals look strong, but there is a danger the rug could get pulled from underneath the market.

143

The jury is therefore still out as to whether this was just another mini correction or whether more selling will follow. The wider markets are showing some strength, equities are heading higher, mining stocks are showing some strength.

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