Money manager positioning on the CME copper contract is as bearish as it has been since Q1 2020, according to Reuters columnist Andy Home.

Money manager positioning on the CME copper contract is as bearish as it has been since the first quarter of 2020 when industrial metals prices collapsed as China, writes Andy Home.

Benchmark London copper retreated on Friday and was on track for a fifth straight weekly loss on worries that fresh covid-19 restrictions could slow the pace of infrastructure projects.

Lately, gold has failed to attract safe-haven flows despite growing recessions risks.

China’s steel mills are sounding the alarm over crisis conditions in the industry as margins plunge due to weak demand. 

South Africa’s reliance on coal to generate most of its power makes it an environmental pariah but it’s also helping keep inflation in check.