Base Metals Price Outlook
Base metal prices decline at fastest pace in 11 months in May on concerns over the Chinese economy
June 11, 2019
Base metal prices declined 4.8% on a monthly basis in May. The reading represented the largest drop in 11 months and followed April’s 0.3% decrease.
China’s weak economic data for April, concerns about the health of China’s financial sector and, especially, rising trade tensions with the United States led analysts to adopt a more cautious approach to China’s growth trajectory. A slowdown in China implies a sharp reduction in demand for almost all base metals. On the upside, iron ore prices jumped in May on supply constraints, while cobalt prices continued to recover from the substantial drop observed in Q1.
Recent developments affecting the world’s global growth engine, China, which consumes around half of all base metals, continue to affect base metal prices. Our panel of analysts see base metal prices falling 0.4% year-on-year in Q4 2019 (previously reported: -0.2% year-on-year). Met the why particular panelists expect base metal prices to increase 3.2% year-on-year in Q4 2020.
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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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