Commodity Hedge Funds Metals
Commodity Hedge Funds Bullish on Industrial Metals
Leading commodity hedge funds believe that a stronger global economy in the second half of the year will buoy industrial metals such as copper and iron ore but weigh on the price of gold.
The bullish outlook from hedge funds including Touradji, Ospraie, Galena and Tiberius suggests that the recent fall in the price of industrial commodities could be short-lived. “Our general view is that China and the financial markets are going to be okay,” Nathan Ebeling, head of trading at Ospraie Management told the FT Global Commodities Summit in Lausanne.
“In the second half of the year you want to own risk assets.” That view was echoed by Jeremy Weir, chief executive of Galena Asset Management, which runs one of the largest specialist metals funds, who singled out iron ore as a commodity likely to rise in the second half of the year, along with other industrial metals. Source