At 67, we have started seeing indicators that suggest oil prices might be weighing on demand growth.
More Quotes from Naohiro Niimura:
It's clear that the weather in the US north-east will remain much warmer than normal and reduce heating demand sharply.Naohiro Niimura
We are going to have bearish statistics on crude oil when the report is released today. Oil probably rose too much yesterday.
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Traders are not in hurry to buy, as we seem to have sufficient supplies plus mild weather.
Naohiro Niimura
Asian players are refraining from being active ahead of jobs data, which is causing the market to be range-bound, but copper will be supported after yesterday's news on China's tax hike.
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The Nigerian incident is a clear sign to buy. There had not been much similar market-moving news for a while and it's easier to move prices now because volumes and liquidity are low due to the holiday period.
Naohiro Niimura
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