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RSG - Resolute Mining News Story

32.9p 0.1  0.3%

Last Trade - 14/05/21

Basic Materials
Small Cap
Market Cap £350.0m
Enterprise Value £502.2m
Revenue £427.8m
Position in Universe 689th / 1826

BUZZ-Berenberg sees weaker commodity prices in H2 on risks to stimulus, recovery hopes

Wed 7th April, 2021 10:24pm
** Berenberg sees upside to commodity prices in the
near-term on higher demand expectations are revised higher and
the "upbeat playlist" of stimulus measures and recovery optimism
    ** However, says should there be any signs of slowdown in
China and if there is a lack of further infrastructure heavy
stimulus, some of the enthusiasm for global growth expectations
may come off, driving weaker prices
    ** This, coupled with our expectation that supply is rising,
drives weaker price forecasts in H2- broker
    ** Cuts gold price forecast for 2021 to 1,663/oz and for
2022 to 1,600/oz
    ** Expects copper prices to trend lower over 2021 and into
    ** Says optimistic on the iron ore market balance for 2021,
driven by stronger-than-expected steel production from China
    ** Takes a more cautious stance on nickel and aluminium,
with both markets in surplus 
    ** Remains hold-rated on Rio Tinto  RIO.AX  and BHP Group
    ** Sees scope for Rio to rebound after a bout of weakness,
but highlights risks including Oyu Tolgoi challenges and ESG
headwinds, which could affect production over time
    ** Cuts PT on ASX-listed shares of gold miner Resolute
Mining  RSG.AX  to A$0.80 from A$1.40 

 (Reporting by Shruti Sonal in Bengaluru)
 ((; Twitter: @shrutisonal26))
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