While the broader markets have recouped their recent losses and the S&P 500 Index ($SPX) is approaching its all-time highs, some sectors have underperformed badly in 2024, including the metals and mining sector.
Commodity prices have been weak this year amid concerns over the Chinese economy, which consumes nearly half of all major metals. China’s slowdown - especially when it hits the country’s real estate sector, which is the single biggest consumer of everything from steel (HVU24) to copper (HGU24) and aluminum (ALX24) - is bound to send shockwaves through the commodity sector.
