Base Metals Price Outlook Economic Forecast

Base Metals Price Outlook

Base metal prices edge up in January 

Base metal prices ticked up 0.3% on a monthly basis in the first month of this year, after flatlining at the end of 2019. January’s result marked the first increase in prices since September.

Improving sentiment  over the global demand outlook supported base metal prices at the outset of the year after China and the U.S. signed  the “phase one” trade deal on 15 January. That said, whereas higher prices for steels , iron ore and zinc led the overall increase in the first half of January, increasing fears of coronavirus fallout in China pushed the prices of most base metals down at the end of the month . Prices for aluminium, copper, tin and zinc were hit especially hard as Chinese demand slumped due to downturns in major metal-consuming industries, including the automotive, construction and manufacturing sectors.

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Base Metals Historical Price Data

2015  2016  2017  2018  2019  
Aluminium1663.69  1604.6  1968.4  2107.64  1794.37  
Alumina377.2  310.14  348.34292307692  472.02134615385  333.93521072797  
Copper5508.57  4871.3  6171.78  6527.31  6008.57  
Nickel11835.3  9596.5  10414.13  13110.42  13917.88  
Lead1787.3  1866.99  2313.17  2239.45  1996.65  
Zinc1929.03  2092.83  2890.89  2920.33  2548.76  
Tin16053.44  17960.96  20068.1  20134.02  18633.23  
Iron Ore55.82  58.61  71.77  69.67  93.88  
Steel (USA)461.14  519.95  619.92  828.46  603.52  
Steel (Europe)422.10344827586  455.12260536398  601.75  649.11877394636  530.27969348659  

Note:
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).

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