news

한어Русский языкEnglishFrançaisIndonesianSanskrit日本語DeutschPortuguêsΕλληνικάespañolItalianoSuomalainenLatina

jpmorgan chase recently released a research report stating that the bank is still bullish on base metal prices in 2025. the research report stated that china's recently launched stimulus policies may lead to a surge in demand for basic metals. coupled with the recovery of metal demand in other regions, the bank believes that global demand will put pressure on the supply growth of metals such as copper, aluminum and zinc. and supply growth remains constrained.

jpmorgan's macroeconomic baseline scenario envisions a soft landing, with interest rates expected to fall to near pre-pandemic levels later in 2025 without a recessionary interruption in the ongoing expansion. the bank continues to expect the fed to cut interest rates by another 50 basis points in november and by 25 basis points at each subsequent meeting until the federal funds rate falls to 3% in the second half of 2025. manufacturing and industrial production outside china are expected to emerge from a two-year slump as the labor market slows but remains resilient and interest rates fall.

according to the research report, upward risks to china's demand in 2025 are emerging. the recent easing measures are undoubtedly the most comprehensive policy actions since 2015 and are obviously aimed at restoring market confidence.

meanwhile, investor positioning in copper and aluminum remains well below their peaks in may, despite rising since august.