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Base metals rally sustainable or another 'dead cat bounce'?

Base metals seem to be approaching a fork in the road, with ICBC Standard Bank saying prices could climb through a period of consolidation, but there was still the likelihood of significant risks pushing prices lower

Base metals rally sustainable or another 'dead cat bounce'? Base metals rally sustainable or another 'dead cat bounce'? Base metals rally sustainable or another 'dead cat bounce'? Base metals rally sustainable or another 'dead cat bounce'? Base metals rally sustainable or another 'dead cat bounce'?

Forecast aluminium deficits have been trimmed, as have ICBC Standard Bank's price forecasts (image: iStock.com/happylemon)

The bank's commodities strategist Marcus Garvey said in a note Friday that price forecasts had been revised lower across the board to reflect a mark-to-market exercise rather than supply-demand model