Financial Times sees upside after London mining stocks shed 7% in June

Influential paper The Financial Times argues in an opinion piece the mining sector, which has been under the cosh for several weeks because of concerns about slowing economic growth and the possibility in the west of a double-dip recession, could rally from current levels.

FT.com opines:

This is not as far fetched as it might seem. Equity investors might have missed it, but demand for metals remains strong. One of the best leading indicators for commodities, ferrous scrap metal, is rallying again after its second-quarter dip and steel consumption was at record levels in April and May.