Base Metals Price Outlook
Base metal prices slide for the first time in over a year in August
Prices for base metals declined 0.2% over the previous month in August, contrasting July’s 1.4% increase and falling for the first time since April 2020.
Following a strong start in July, prices for base metals took a hit midway through Q3. Weak Chinese industrial activity and fixed investment data for July fueled worries of a waning recovery in the Asian giant in August, weighing on prices for base metals in turn. At the same time, concerns of earlier-than-expected tapering by the Fed ahead of its annual symposium on 26–28 August further dampened trading activity. However, most base metals quickly shrugged off the damage, with 8 out of the 12 commodities tracked by our panelists logging gains in August compared to July. Notably, prices for aluminium hit an over decade-high in early September, as a coup in top bauxite producer Guinea—bauxite is key for the production of aluminium—sent prices flying. That said, significant losses recorded in prices for iron ore, due to new steel output curbs in top consumer China, dragged on base metal prices overall.
For report pricing and subscription information, contact us.
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
Request a Trial
Start working with the reports used by the world’s major financial institutions, multinational enterprises & government agencies now. Click on the button below to get started.