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August 2, 2017
MetalMiner Rejoins Commodities Panel
Written by Tim Triplett
Bringing a different perspective to SMU’s Steel Summit Conference later this month will be Lisa Reisman, who will touch on the related topics of copper, zinc and aluminum. Reisman, co-founder and executive editor of MetalMiner, will make her third appearance as a speaker at SMU’s conference at 10:35 a.m. on Tuesday, Aug. 29, as part of the commodities panel.
Previewing her remarks at the conference, Reisman says MetalMiner has changed its outlook on zinc. “Although industrial metals as an asset class remain bullish, MetalMiner has shifted its long-term commodity outlook to bearish. Zinc prices, though they reached a three-month high in July, have not breached MetalMiner key resistance levels. Moreover, trading volumes do not appear to support buying sentiment (and therefore upward price momentum).”
MetalMiner sees some indicators that suggest aluminum may be forming a “price top” and may struggle to continue moving higher. Prices moved a bit sideways in July, despite some strong price moves for other base metals, Reisman notes.
Copper is poised for a correction, she predicts. “Despite the big increases in copper prices during the final days of July, MetalMiner sees a copper price correction in August or September. Buying organizations had a good opportunity to buy long-term forward in May. They can take a wait-and-see approach until the trend is clarified.”
