BofA foresees higher prices for aluminum, copper, nickel in next 6 months
Time:Fri, 06 Dec 2024 09:08:02 +0800
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Bank of America (BofA) forecasted higher prices for aluminum, copper, nickel, silver, Brent crude oil, natural gas, and agricultural products over the next six months, but weak returns for cotton, zinc, corn, soybean oil, and Kansas wheat.
While natural gas premiums eased in November, commodity returns remained under pressure from metals, grains, and natural gas contangos. Gold and silver futures were also in higher premiums, with the one-month contract up 1.7% and 2.1% respectively.
BofA predicted that US GDP will grow by 2.3% in 2025 and the inflation rate will exceed 2.5%, which may push terminal interest rates higher. However, US trade policy may put pressure on global emerging markets and commodity prices.
