Copper led base metals lower and has now followed suit on the upside as it bounced strongly last week helping the related stocks outperform in a drifting market e.g. OZ Minerals (OZL) +0.9%. We continue to look to re-establish an overweight exposure to the sector but feel it’s a crowded trade which could easily provide better opportunities in the weeks ahead i.e. MM is likely to remain patient at this stage, especially when we consider the position of both the $US and US equities.
MM is looking for areas to buy the industrial metals
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