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Metal prices are losing ground against the cyclical benchmark used in PortfolioDirect (and illustrated in the chart) to track where we are in the cycle

John Robertson

PortfolioDirect

Metal prices are losing ground against the cyclical benchmark used in PortfolioDirect (and illustrated in the chart) to track where we are in the cycle. At this point, the cycle is relatively mature and, on average, there are usually signs of firmer cyclical conditions. It would still be premature to expect a true cyclical recovery by this time. However, the balance of risks would normally have evolved from a preoccupation with the downside to more frequent concerns about how occasional macro and supply side events could cause prices to rise.


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John Robertson
John Robertson
PortfolioDirect

John Robertson is Chief Investment Strategist for PortfolioDirect a provider of resource sector investment stock ratings and portfolio strategies for mining and oil and gas investors. He has worked as a policy economist, corporate business...

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