Australia's Macquarie Bank expecting higher prices for commodities to continue for a while:
Cites Chinese demand, robust economy to continue through the second half of 2017
Forecasts
- Average for 2018 benchmark iron ore +14%, says margins for steel still wide
- Average for aluminium 2018 +7%, says smelting overcapacity in China being addressed
- Copper, avge 2018 +4.8%
MBL says in the longer term though sees iron ore price downside on falling Chinese steel demand
Research note dated August 29
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ps. Separately, but relevant also for Australia. ... Big Australian furniture/appliance retailer Harvey Norman sees favourable conditions in Australian housing market in the near term
