Citi Analysis has predicted rising demand for seven strategic minerals towards the oil market in This autumn of 2024 globally.
CITI’S TAKE printed within the World Commodities Quarterly, on Thursday, September 17, 2024, listed Silver, Lithium, uranium, gold, Copper, Metal and Nickel as a number of the strategic minerals that may lead the worldwide economic system by the years finish, with a bias forward of the oil market.
“We consider we’re coming into a momentous interval for the worldwide economic system, asset markets, and commodity markets particularly. This surroundings seems to be set to offer robust buying and selling and risk-management alternatives for commodities traders, producers, and customers into year-end 2024, and we establish 7 excessive conviction commodity concepts on this piece. “
The report envisaged China’s bifurcated economic system to maneuver in full swing because the Fed and world central financial institution slicing cycles start this week focusing on the commodity sectors.
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“And we anticipate we are going to transfer into full swing by year-end. China’s bifurcated economic system seems to be set to stick with robust energy-transition-related sector progress, set towards weak housing/client/non-public sector exercise.
“Substantial OPEC+ overcapacity after two years of slicing output and deteriorating oil balances for 2025 imply the OPEC+ early December assembly will likely be crucial for the $3trn oil market and associated asset markets:”
The report additional famous a change within the coming months following the US elections set for early November, with tariffs and overseas coverage more likely to see key adjustments.
“And Russia is threatening to cut back exports of some commodities. We additionally introduce a brand new elementary pricing framework for silver (sizzling on the heels of our gold framework two months in the past), and a brand new copper end-use demand tracker.” It additional learn.
