Among the key base metals, ALUMINUM prices are expected to continue to rise until at least early 2022, exceeding $ 2,600 / ton, equivalent to $ 1.18 / lb, the highest level in a decade, then maintained until mid-2022.
An overview of global metal situation
Moody’s has just released a detailed report on medium-term price outlooks of commodities: iron ore, steel, coal, aluminum, gold, silver, nickel, copper, and zinc, with the content of the mining and metals industry outlook. There is a fundamental change.
Moody’s Investment Services Report just released has adjusted its forecast for the future of the metal market in general and aluminum market in particular from “positive” to “stable”, despite assuming that the prices of most metals are continually surpassing the historic highs levels, but that does not mean prices will continue to rise.
According to Moody’s, the current high prices will gradually decrease, although demand for metals in particular and the mining industry in general remains high. The organization believes that prices for most base metals will remain firm throughout 2022, after hitting a record high this year.
“We expect this industry’s income (pre-tax income, excluding interest and without inflation) to increase by about 8% by mid-2022, on the basis that the world economic recovery will boost demand for base metals, iron ore, steel, and coal increases. “- Barbara Mattos – Moody’s Vice President
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