Metal prices may see more correction but long-term trend remains bullish: S&P Global Platts
Paul Bartholomew of S&P Global Platts on Monday said metal prices could see more correction but the long-term trend remains bullish.
Speaking in an interview with CNBC-TV18, he said, “If commodity prices rise too high then that’s perhaps a sign of economic recovery. So the market has become a lot more cautious, sitting on the sidelines now for about a week and we saw iron ore dropped to about USD 200 per tonne last Friday.”
“However, I suspect it’s just a bit of a pause and look at fundamentals; I still think there is a lot of bullishness sitting beneath and I don’t think this is a start of a big correction,” he said.
Bartholomew further said, “I still see a lot of upside in copper and a decent move in aluminium prices.”
Source: CNBC TV18