#warren patterson

The post Aluminium: Deficit outlook supports rebound – ING appeared on BitcoinEthereumNews.com. ING’s Warren Patterson and Ewa Manthey note Aluminium has extended gains after hitting a four‑month low, as lower prices attracted Chinese buying. Despite recent pressure from faster‑than‑expected Middle Eastern supply recovery, the market is still seen in deficit this year, with Chinese spot inventories falling for a twelfth session and speculative net longs dropping to multi‑year lows. Prices recover as Chinese demand returns “In base metals, aluminium extended gains for a second session, rebounding from a four-month low as lower prices attracted buying interest in China. The metal had come under pressure last week as Middle Eastern supply recovered faster than expected following the ceasefire, but the market is still expected to remain in deficit this year.” “Supporting the constructive outlook, China’s aluminium spot inventories fell for a twelfth consecutive session to 1.09Mt, more than

The post Gold: Central bank demand underpins prices – ING appeared on BitcoinEthereumNews.com. ING strategists Warren Patterson and Ewa Manthey report that Gold has edged lower after an early advance as traders await the June Federal Open Market Committee (FOMC) minutes, but the metal trades in line with evolving US rate expectations and remains supported above $4,000/oz. Ongoing Strait of Hormuz security concerns and persistent official‑sector buying, led by China, underpin the outlook. Fed path and China buying in focus “Gold edged lower in Tuesday’s afternoon trading after an early advance as investors looked ahead to the release of the June Federal Open Market Committee minutes later this week for further clues on the Federal Reserve’s policy path. The metal continues to trade largely in line with shifting US rate expectations. Last week’s weaker-than-expected jobs data reduced expectations of additional tightening and helped gold stabilise back above the $4,000/oz level.” “Meanwhi