Snapshot: State of the Market - Mining Q2-2019

The mining industry in the June quarter reflected a deteriorating global economic outlook, tempered only by rising gold prices as the quarter ended.

As we wrote our last edition of State of the Market, we noted that many metal prices were locked in a bearish downtrend in the second quarter and that this could indeed feed through to further weakness in our assessment of industry health. Following the May breakdown of trade negotiations between China and the U.S., prices for copper, zinc and nickel ended the quarter lower by 14%, 8% and 3%, respectively. Gold had trended lower through late May, before rising global economic concerns and expectations that the U.S. Federal Reserve would soon cut rates led the gold price to finish the quarter 9.0% higher.

How did the mining sector perform in this challenging quarter?
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