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Top miners set to suffer from global industrial slump, Deutsche Bank says
The world's top mining companies are set to be hit by a drop in metals prices caused by a major slump in industrial activity in China, the U.S. and Europe, Deutsche Bank has said. The anticipated slowdown in industrial activity is set to push down the price of metals including copper, nickel and iron ore from recent highs, analysts led by Liam Fitzpatrick said in a note. Major mining firms including Glencore (UK:GLEN), Rio Tinto (UK:RIO), and BHP Billiton (AU:BHP) are, in turn, likely to take a hit to their bottom lines in 2024 and 2025, as metals prices soften. Deutsche Bank's analysts explained that macroeconomic ... (full story)
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- Posted: Sep 10, 2024 3:56pm
- Submitted by:Category: Fundamental AnalysisComments: 0 / Views: 158
