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Code: 44610 Visited: 419 Publish Date: Nov 08 2017 - 1:39
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Capital Market
Capital Market Expected to Grow in 2018
Tehran, Nov. 08 (SENA) - As commodity prices are forecast to continue to rise next year, Iranian experts believe that the domestic capital market will gain accordingly.

Tehran, Nov. 08 (SENA) - As commodity prices are forecast to continue to rise next year, Iranian experts believe that the domestic capital market will gain accordingly.

World Bank’s October Commodity Markets Outlook says prices for industrial commodities will rise in 2018.

Besides, Iranian financial expert Mohammad Nourbakhsh said, appreciating US dollar against the rial will also lead to higher gains in the capital market.

“Our capital market’s growth depends on the US dollar rate,” he said, noting that as the rial has lost value in the recent past.

Petrochemical complexes, which accounts for 25% of the market value, are expected to be positively affected by higher rate of the dollar, the expert told SENA.

He further said that China’s economic growth will guarantee high demand for metals.

China consumes more than half of the world’s metals.

The World Bank report predicts that Iron ore prices will tumble 10% in the coming year while tight supply should push up prices for base metals including lead, nickel and zinc, according to the World Bank report.

Downside risks to the forecast include slower-than-anticipated demand from China, or an easing of production restrictions on China’s heavy industries.

According to the report, the oil price forecast is a small downward revision from the April outlook and is subject to risks. Supplies from producers such as Libya, Nigeria, and Venezuela could be volatile. Oil producers could follow up their production limiting agreement of last year by deciding to cut production further, maintaining upward pressure on prices. At the same time, failure to renew the existing agreement could drive prices down, as could higher production from the US shale oil industry, which has reduced its operating costs substantially.

 
By: Security and Exchange News Agency (SENA)
 
 
 
 
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