Industrial commodities rise supported by stronger global demand - AmpGFX

There is a resurgence in industrial commodity prices and while there appear to be skeptics that the resurgence in Chinese steel prices can continue, the rise in commodity prices is broad-based, according to Greg Gibbs, Analyst at Amplifying Global FX Capital. 

Key Quotes

“Aluminum and copper prices are up solidly over the last month, and oil prices have also rebounded supported by a new record high in US gasoline demand, above the seasonal average over the last 5-years, and signs that excess US oil inventory is adjusting.”

“The breadth of the gains in commodity prices tends to suggest they are being supported by stronger global demand, rather than special factors.”