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Metals fund Orion Resources sees more pain for copper, gold- 2016 China(Guangzhou)Non-Ferrous Metals Exhibition
12/9/2015 non-ferrous metals expo |
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Reuters reported that copper and gold are set for more price weakness as bear markets across the commodities sector are likely to last three more years, metals and mining fund Orion Resources said last week.
Orion''s CIO Mr Oskar Lewnowski told the Mines and Money conference in London that “We are going to see a pretty broad cross-commodity leg down, where $900 an ounce gold is more than just a possibility. $1.80 a pound ($3,968 a tonne) for copper is likely.”
He said “I don''t think we are going to see much relief until 2018.”
Mr Lewnowski also expects more downward pressure on oil prices. Brent crude is currently at around $44 a barrel. He said "I''ve been encouraged on the downside on oil by the ability of the US producers to continue to produce at ever lower break-evens.”
Orion Resources manages around $2 billion in assets.
有色金属展-2016年第十七届广州国际有色金属展览会-巨浪展览 non-ferrous
metals- 2016 China(Guangzhou)Non-Ferrous Metals Exhibition
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