The return of El Niño likely to cause issues for commodity markets – ANZ Commodities Gold Gas Energy Banks
El Niño is expected to increase demand for electricity
We expect an increased level of disruptions to supply in the metals markets. Copper from South America is the most exposed. Aluminium supply in China is also at increased risk of disruption. On the flip side, demand for Gold could be impacted as lower revenue from reduced crops keeps India’s farmers hands in their pockets.
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