Base Metals And Natural Gas Amid Plethora Of Positive News Flow
Satendra Singh | Mar 12, 2018 08:40AM ET
Amid the plethora of news flow from Chinese Parliament that it has passed a series of constitutional amendments, including one that removes presidential term limits, allowing President Xi to remain in office indefinitely. Secondly, the U.S. reportedly asked China to import more cars, aircraft, soybeans and natural gas as part of a plan to cut its bilateral trade deficit by $100B and avoid placing tariffs on Chinese imports. I find that the base metals, which have had already been forced to trade at the cheaper valuations amid growing economic concerns of expected eruption of trade war, and has been cooled down till today; seems to be a good opportunity for both the base metals and also for the Natural Gas. China, being one of the biggest consumers of the World, was feeling the impact of growing economic concern the most. Since the eruption of the positive news flow that the U.S. President Donald Trump seems ready to meet with Kim, who had invited Trump to what would be unprecedented talks between leaders of the two nations.
A plethora of positive news flow has not only resulted in edging up of Natural gas futures edged higher to start the week on Monday, but also seems to be a big breakthrough in controlling the falling base metals futures too.
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