Volatility in oil is expected to continue, which will tricky for investors to handle, says Mark Keenan, Head of Commodities Research – Asia at Societe Generale. Oil is expected to average at USD 33 per dollar, he adds. Speaking to CNBC-TV18, Keenan says that any movement in currencies will have significant impact on the oil. Discussing the slowdown in the metal space, Keenan says base metals are in dangerous territory due to slowing growth in China. This has led to lower cost of production and an increase in exports by metals companies globally, he adds. China cutting down its steel production, as suggested by recent reports, will be a positive for the industry, he says. Unless there is stability in the oil market, metals are expected to remain low, Kennan adds.
Source: Moneycontrol.com
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