The China-Driven Metals ‘Super Cycle’ Is Over, Jefferies Says
- Longer-term demand likely to be dominated by US and Europe
- China’s plodding post-virus recovery failed to ignite prices
Aluminum is down around 3% for the week.
Photographer: Oliver Bunic/BloombergThis article is for subscribers only.
The halcyon days of China underpinning demand for metals like copper, aluminum and iron ore are over, according to Jefferies LLC.
With China facing a falling population and geopolitical challenges, longer-term demand will now be dominated by the US and Europe, Jefferies analysts led by Christopher LaFemina said in a note.