Goldman Sachs: Metals forming a base

Analysts at Goldman Sachs are noting that metals prices appear to be forming up a bottom from which to push higher.

Key highlights

GS cites China policy easing as a supporter of economic activity despite weakening data.

Policies being put in place to counteract strung-out data points.

Downside impact of metals demand from tariffs is being built into the current price declines.

Downside headwinds from a buoyed USD are beginning to ease off.