Base Metals Price Outlook
Base metal prices hit five-month high in October
Prices for base metals increased 3.6% over the previous month in October, accelerating from September’s 1.1% rise and logging the best result since May.
Base metal prices rose at a quicker pace at the outset of Q4, with prices for 8 out of the 12 commodities tracked by our panelists posting increases compared to the previous month, largely on favorable fundamentals. Supply tightness, coupled with low inventories stemming from high withdrawing activity from commodity traders, sent copper prices soaring to a multi-year high in October, while strong demand- and supply-side fundamentals pushed prices for tin to a fresh record high in the same month. On the other hand, prices for iron ore slid for the third consecutive month, chiefly due to tighter output curbs in the Chinese steel-making hub of Tangshan amid high inventory levels of iron ore. This, coupled with China’s decision to set a target price for coal, weighed further on prices for the steel-making commodity.
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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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