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Julius Baer remains “cautious” on industrial metals following China downgrade

Julius Baer says it has maintained its “cautious” outlook on industrial metals, after ratings agency Moody’s lowered China’s sovereign credit rating to A1 on Wednesday. “While China’s debt-related downgrade does not affect the short-term outlook for metals demand, sentiment took a hit,” Julius Baer commodities research analyst Carsten Menke said in an investment note. “Medium to longer term, the debt…

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