Deutsche Bank releases 2025 mining stock outlook, highlighting global uncertainty and industry reforms

From Investing.com: 2024-11-30 05:00:00

Deutsche Bank Research offers a 2025 outlook for mining stocks, highlighting global economic uncertainty and industry reforms. Key themes include tariffs, China’s capacity controls, M&A activity, and U.S. listings. Recovery signs expected in the second half of 2025, hinging on global trade policies. Metal prices may rebound with improving demand outside China.

U.S. tariffs could impact global markets, benefiting U.S. steel producers but posing challenges for copper. A Russia-Ukraine ceasefire may stabilize energy markets and boost demand for steel. China’s capacity controls aim to tighten global supply, benefiting companies like Norsk Hydro. M&A activity reflects a shift towards green metals for the energy transition.

European steel producers could benefit from reduced energy costs and increased demand post-Russia-Ukraine ceasefire. China’s reforms in metal production may tighten global supply, favoring companies like Norsk Hydro. M&A activity driven by strategic shifts towards green metals essential for the energy transition. Corporate restructuring and U.S. listings aim to unlock value and enhance shareholder returns.

Aluminium positioned to benefit from constrained Chinese production. Copper projected to enter a structural deficit by late 2025, supporting higher prices. Iron ore market likely to face sustained surpluses due to declining Chinese demand. Top equity picks include Anglo American, Norsk Hydro, and Rio Tinto for their strategic efforts and exposure to high-margin assets. Glencore stands out for its cash flows and potential U.S. listing.



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