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Base Metal complex may witness short-covering in coming weeks: Deutsche Bank

Posted on 29 April 2013

Over the next couple of weeks it appears likely that the base metals complex may see some short-covering as Chinese merchants/speculators square positions heading into holidays early next week (May Day), stated Frankfurt based Deutsche Bank (DB) in its recent market analysis.
Furthermore an exhaustion in selling by Western funds concerned about disappointing economic growth appears to have been reached.The magnitude of buying may depend partially on how CTAs respond and, of course, if there is an improvement in economic data after the recent disappointment – certainly the recent jobless claims data from the US is easing concerns………………………………………..Full Article: Source


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