Base Metals Weekly Report: Motilal Oswal
According to Motilal Oswal, Copper prices were highly volatile last week and we have seen this as a common feature for much of 2021.
September 20, 2021 / 05:56 PM IST
Motilal Oswal's report on Base Metals Weekly
Copper prices were highly volatile last week and we have seen this as a common feature for much of 2021. Stronger dollar made the metal more expensive, while investors were in wait-and-watch mode with a U.S. Federal Reserve meeting taking the spotlight in a week full of central bank events. Policymakers from major economies including Japan and the UK are due to meet this week, though the focus is on the Fed’s two-day meeting that will conclude on Wednesday, with markets expecting it will stick with broad plans to begin tapering this year.
Overall the metals complex has had a good run up and is undergoing another round of buying with some micro changes in most; however the rise in dollar and macro issues developing in China along with overheated risky assets can cap gains in the short run. We advise caution for the next few weeks.
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