COM: Copper, tin, oil get Barclay’s top commodity rankings for July
By Allen Sykora
Analysts with Barclays Capital give their top monthly commodity rankings to copper, Tin and crude oil. For commodities generally, the bank sees a more positive global economic environment in the third quarter.
“This environment should be especially beneficial for base metals, which are poised to gain from a pick-up in the global auto sector as Japan recovers and will benefit more than other commodities as China approaches the end of its rate hiking cycle, reflecting the fact that China is more important for base-metals consumption than for any other commodity sector,” Barclays says.
“Base metals also face significant supply challenges, especially in Copper where mine production recently has been far worse than expected.” Barclays ranks the commodities it follows on a scale of one (worst) to five (best).
Tin and copper each got a 5 ranking. The scores for other base are: aluminum and lead, 4; nickel, 3; and zinc, 1. For precious metals, Gold got a 4, while silver, Platinum and Palladium each ranked 3.