Summer torpor hits industrial minerals early

摘要

Specialist mining bank Investec commented in early July that mining is "going nowhere and nowhere fast", pointing to continuing volatility in commodity prices and unpredictable foreign exchange rates, against a background of macroeconomic challenges, that it said were keeping the sector down. Investec highlighted weaker than expected US growth and the increasing likelihood of a Grexit from the Single European Currency (euro), plus the fact that economic stimulus measures in China have failed to boost commodity consumption.