S&P Global Platts on Wednesday said metal prices are under pressure from weak demand and US-China trade war.
In an interview to CNBC-TV18, Paul Bartholomew, senior managing editor, said, "As far as China is concerned, the view is that little bit of a stimulus is coming into the market to support things up before the end of the year as because the Chinese government doesn’t want to get to the end of 2019 and not achieve its gross domestic product (GDP) targets."
Speaking about the global slowdown, he added, "I don’t see too much strength in prices over the rest of this year. We are seeing a fair bit of destocking going on."
“I don’t see price pressure coming out over the rest of this year and then we might get a little bit of an uptick. But looking globally, I would hesitate to say that the worst is behind us,” Bartholomew said.