Base metal prices set for a rally early next year after bearish phase

Base metals seem set to end a bearish price phase, with the stage being set for a rally early next year. Since April, most metals had not been doing well, after the American government warned of raising tariffs on commodities imported from China. Tariffs have been raised but China’s demand has not fallen as significantly as had been feared. Analysts are, therefore, turning bullish for metals.

Since April, metals are down by nine to 23 per cent. If considered from the last week of April, when the US first warned of a trade war, especially with China (the largest consumer of