Base Metals Price Outlook
Base metal prices fall slightly in December
Prices for base metals slid a marginal 0.1% over the prior month in December, softening from the 4.4% decline tallied in November, which had marked the worst reading in nearly two years.
Fears of a global economic slowdown, amid the emergence of the Omicron variant, shook investors’ confidence in December, resulting in falling prices for six out of the twelve commodities tracked by our panelists. Prices for copper slid in the month, weighed on by a stronger greenback amid a more hawkish Fed, and news of Las Bambas mine in Peru returning to normal operational capacity. Moreover, still-downbeat automotive activity continued to weigh on both EU and U.S. HRC steel prices, while prices for alumina recorded the strongest losses amid subdued aluminium smelting activity, due to elevated energy costs. This, however, sparked supply worries, buoying prices for aluminium. Similarly, iron ore prices recorded gains, on hopes of stronger Chinese demand following the end of the country’s winter Olympics, while positive EV sales data supported prices for nickel and cobalt.
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Base Metals Historical Price Data
Aluminium prices in USD per metric ton (mt).
Alumina prices in USD per metric ton (mt).
Copper prices in USD per metric ton (mt).
Nickel prices in USD per metric ton (mt).
Lead prices in USD per metric ton (mt).
Zinc prices in USD per metric ton (mt).
Tin prices in USD per metric ton (mt).
Iron ore prices in USD per metric ton (mt).
Steel (USA) prices in USD per metric ton (mt).
Steel (Europe) prices in USD per metric ton (mt).
All prices are average of period (aop).
Price forecasts and historical data for Energy, Metals and Agricultural Commodities
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