World's top miners set for hit from sharp slump in industrial activity, Deutsche Bank says

seekingalpha09-15

The top global mining companies are set to suffer from a drop in the prices of metals including copper, nickel and iron ore caused by a steep slump in industrial activity in China, the U.S. and Europe...

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The world is set for a \"synchronous downturn in industrial activity in China, the U.S. and Europe,\" causing miners including Glencore  , Rio Tinto  and BHP  to take a hit to their bottom lines in 2024 and 2025, Deutsche Bank analysts led by Liam Fitzpatrick said. The bank cut its aluminum, copper and nickel price forecasts for Q4, expecting metals prices will drop sharply over the next two quarters and remain low into 2025. Price targets for several of the world's largest metals producers were cut by the bank, including Anglo American  , Antofagasta  and Norsk Hydro  . Deutsche Bank slashed its earnings forecast for First Quantum  by 12.9% for 2024 and 14.1% in 2025, Lundin Mining  by 9.1% in 2024 and 12.8% in 2025, and Vale  by 8.1% in 2024 and 8.2","collect":0,"end_time":0,"defaultTopTitle":"seekingalpha.com","property":[],"viewcount":null,"language":"en","relate_stocks":{"BK4153":"铝","LU0086394185.USD":"SCHRODER ISF LATIN AMERICAN \"A\" (USD) INC AV","LU0256859116.SGD":"施罗德拉丁美洲A Acc SGD","BK4015":"铜","LU0106259046.USD":"施罗德拉丁美洲基金","LU0075056555.USD":"贝莱德世界矿业基金A2","GLNCY":"Glencore Plc","BHP":"必和必拓公司","LUNMF":"Lundin Mining Corp.","LU0572108347.SGD":"Blackrock Latin American A2 SGD-H","BK4548":"巴美列捷福持仓","LU0265266980.USD":"法巴巴西股票基金","NHYDY":"Norsk Hydro ASA","FQVLF":"First Quantum Minerals Ltd.","BK4006":"钢铁","LU0330918003.SGD":"Blackrock World Mining A2 SGD-H","NHYKF":"Norsk Hydro ASA","BK4168":"多种金属与采矿","LU0072463663.USD":"Blackrock Latin American A2 USD","LU0265267285.USD":"BNP PARIBAS BRAZIL EQUITY \"C\" (USD) INC","BK4585":"ETF&股票定投概念","LU0788109048.HKD":"BGF LATIN AMERICAN \"A2\" (HKDHGD) ACC","NGLOY":"Anglo American plc","BK4533":"AQR资本管理(全球第二大对冲基金)","DB":"德意志银行","BK4566":"资本集团","VALE":"淡水河谷","RIO":"力拓","GLCNF":"Glencore Plc","IE00B1B80R65.USD":"柏瑞拉丁美洲股票A","LU0449509016.USD":"HSBC GIF BRIC EQUITY \"AC\" (USD) ACC","LU1023059493.AUD":"Blackrock World Mining A2 AUD-H","BK4588":"碎股","LU0214875030.USD":"HSBC GIF BRIC EQUITY \"M2C\" (USD) ACC","AAUKF":"Anglo American plc"},"translate_title":"德意志银行表示，全球顶级矿商将受到工业活动大幅下滑的打击","themeId":null,"isJumpTheme":false,"ttsUrl":null,"symbols_score_info":{"BHP":1,"VALE":1,"RIO":1,"NHYKF":1,"NHYDY":1,"NGLOY":1,"LUNMF":1,"GLNCY":1,"GLCNF":1,"FQVLF":1,"DB":1,"AAUKF":1},"content_text":"The top global mining companies are set to suffer from a drop in the prices of metals including copper, nickel and iron ore caused by a steep slump in industrial activity in China, the U.S. and Europe, Deutsche Bank analysts said this week. The world is set for a \"synchronous downturn in industrial activity in China, the U.S. and Europe,\" causing miners including Glencore (OTCPK:GLCNF) (OTCPK:GLNCY), Rio Tinto (RIO) and BHP (BHP) to take a hit to their bottom lines in 2024 and 2025, Deutsche Bank analysts led by Liam Fitzpatrick said. The bank cut its aluminum, copper and nickel price forecasts for Q4, expecting metals prices will drop sharply over the next two quarters and remain low into 2025. Price targets for several of the world's largest metals producers were cut by the bank, including Anglo American (OTCQX:AAUKF) (OTCQX:NGLOY), Antofagasta (OTC:ANFGF) and Norsk Hydro (OTCQX:NHYDY) (OTCQX:NHYKF). Deutsche Bank slashed its earnings forecast for First Quantum (OTCPK:FQVLF) by 12.9% for 2024 and 14.1% in 2025, Lundin Mining (OTCPK:LUNMF) by 9.1% in 2024 and 12.8% in 2025, and Vale (NYSE:VALE) by 8.1% in 2024 and 8.2% in 2025.","kind":null,"is_publish_news":true,"is_publish_highlight":false,"is_publish_live":false,"is_publish_wemedia":null,"editions":null,"column":"","sentiment":"0","news_tag":"","news_rank":0,"symbols":[],"gpt_button":1},"commentList":[],"isCommentEnd":true,"newsSizeData":{"likeSize":0,"commentSize":0,"repostSize":0,"favoriteSize":0,"likeStatus":false,"favoriteStatus":false},"APP":{"userAgent":"Mozilla/5.0 AppleWebKit/537.36 (KHTML, like Gecko; compatible; ClaudeBot/1.0; +claudebot@anthropic.com)","isDev":false,"isTTM":true,"deviceId":"web-server-community-laohu8-v3","version":"4.29.1","shortVersion":"4.29.1","platform":"web","vendor":"web","appName":"ttm","isIOS":false,"isAndroid":false,"isTiger":false,"isTHS":false,"isWeiXin":false,"isWeiXinMini":false,"isWeiBo":false,"isQQ":false,"isBaiduSwan":false,"isBaiduBox":false,"isDingTalk":false,"isToutiao":false,"isOnePlus":false,"isHuaWei":false,"isXiaomi":false,"isXiaomiWebView":false,"isOppo":false,"isVivo":false,"isSamsung":false,"isMobile":false},"href":"/m/news/2467187027"}