Base Metals Price Outlook Economic Forecast

Base Metals Price Outlook

 

Base metal price growth jumps to near three-year high in June 

Base metals prices rose 7.3% on a monthly basis in June, accelerating from May 1.6% uptick and marking the strongest increase since August 2017.

Healthier demand conditions underpinned June’s upturn, with prices increasing for 11 out of the 12 base metals we track. This came as Chinese industrial activity regained further steam at the end of Q2 while private-sector activity in most other major industrialized nations seemingly bottomed out in the same period. Growing infrastructure development thanks to the global fiscal stimulus spending spree, coupled with supply concerns amid mine disruptions in South America, added further upside pressure to prices in June.

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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  
Molybdenum17019.775568244  14131.704843581  17659.119469124  26381.87  25693.62  
Cobalt28440.24  25490.73  55850.9  72920.08  33296.91  

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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