07.03.2016 - Base metal price recovery may be short-lived, say analysts
The price recovery in base metals may be short-lived as there is hardly any change in fundamentals that points to a long-term rally, analysts said. They attribute the current rally to short covering that is prompting some bargain hunting which may not last too long. The market expectation is that prices of base metals may rise by another 4-5% this month, possibly luring investors looking for short-term gains. "Base metals are trending higher underpinned by the Chinese stimulus and monetary easing announcement, mine closures, production cut- backs and reduction in capital expenditures across the globe," said Renisha Chainani, senior manager, commodity research, Edelweiss Financial Services...............................................Full Article: Source
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