China finally recovering....
Justin Smirk of Westpac Banking Corp. (WBC) in Sydney beat as
many as 25 others in predicting metals for two consecutive
quarters on a rolling two-year basis. Now, he expects copper, nickel and zinc to gain
through June and forecasts a 22 percent rise in aluminum.
As per Smirk, after slowing for consecutive eleven months, China's growth will finally accelerate. Smirk’s average margin of error in the most recent rolling
eight-quarter period was 7.4 percent, Bloomberg Rankings data
show.
Aluminum will average $2,200 in the second quarter, copper
$8,225, zinc $2,200 and nickel $18,875, according to the medians
of as many as 21 analyst estimates compiled by Bloomberg.
“Our view for commodities is very much driven by our view
on growth and how the financial markets are working,” he said.
Sources: Bloomberg.
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