Addressing this year’s Singapore Derivatives Market Forum on behalf of Bluefire Capital, Andrew Patterson will be provides the firm’s outlook on Platinum.
Speaking at the Conference, he said that the firm remains bullish on its outlook for base metals, including Platinum, over a two year horizon from both a fundamental and inflationary perspective.
Bluefire Capital also maintains that over the medium term, China has surprised markets by its supply response this year, which has witnessed the reversing of both mine and smelter production cuts. According to the firm, this may well result in a potential delay to the upside, thereby short-circuiting the current strength. As a result significant stockpiles are now building in China.
Turning to the here and now, Bluefire Capital believe that prices may drift lower, reflecting a surge in Chinese supply and awaiting 'real' demand growth. However, the firm maintains the only real positive environment for metals is China and is skeptical as to the 'green shoots' argument in relation to Western market economies. They also retain that there remains a real possibility for markets to take a step towards the downside in 2010.
Chief Executive of Bluefire Capital James Smith, as well as other representatives of the firm from the Singapore and New York offices also attended, underlying the importance with which the firm regards the Chinese market and its potential for growth and future expansion.
Bluefire Capital is a full service commodity futures and options brokerage firm based in United Kingdom with offices worldwide. With our knowledge, specialized service and competitive rates, we service everyone from the first time commodities trader to the professional. At the heart of our business model is a singular focus, which is to provide our clients with highly personalized and efficient service
