- Write by:
-
Friday, August 6, 2021 - 01:18:01
-
433 Visit
-
Print
Mining News Pro - Tin and aluminum prices are likely to outperform the rest of the base metals complex in the second half of 2021 on strong demand and tight supply, state-backed Chinese research house Antaike said on Thursday.
“Tin and aluminum are still much stronger than other metals, followed by nickel and lead,” senior analyst Xia Cong said on a webinar.
Base metal prices have surged to multi-year or record highs in 2021 on recovering demand from the pandemic, supply issues, monetary easing and speculative trading, raising costs for manufacturers in top metals consumer China.
The rally has cooled in recent months as policy tightening talks emerged and demand recovery slowed in top consumer China.
Tin on the London Metal Exchange could average $28,500 a tonne over August-December, up from an average of $27,393 in the first seven months of this year, Antaike said.
Aluminum is meanwhile forecast to rise to an average of $2,550 a tonne over the remainder of 2021, up from $2,295 a tonne in January-July.
Tin has been supported by limited supply and strong demand from the electronics sector during the pandemic, while robust consumption of aluminum outpaced supply, which was hurt by power cuts and floods in top producer China. Nickel prices are expected to rise slightly to an average $18,000 a tonne in August-December, buoyed by strong demand in the stainless steel sector and better-than-expected consumption from the electric-vehicle battery industry.
The compound annual growth rate of global nickel demand from the battery sector is expected to be 31% during 2021-2025, Xia said.
Average lead prices will likely increase to $2,190 a tonne over the rest of the year, up from $2,121 year-to-date, she added.
Tight lead concentrate is supportive for prices, but high ingot inventories in China will keep a lid on any rally unless exported to overseas markets such as the United States and Europe, Xia said.
Average copper and zinc prices for the rest of the year could edge down from current levels, as supply gradually improves for both metals, she said.
Short Link:
https://www.miningnews.ir/En/News/615247
Anglo American Plc said it is has received an unsolicited non-binding combination proposal from BHP Group.
The London Metal Exchange is imposing new rules surrounding the movement of metal in its warehousing network, taking aim ...
The London Metal Exchange (LME) on Saturday banned from its system Russian metal produced on or after April 13 to comply ...
Chile’s SQM called another investors meeting at the request of its second-largest shareholder, Tianqi Lithium Corp., ...
Vietnam’s top miner Vinacomin plans to invest 182 trillion dong ($7.3 billion) to ramp up its alumina-aluminum ...
Copper jumped to its highest intraday price since January 2023 as the bellwether industrial metal faces rising tighter ...
Shares of MAG Silver rose on Thursday following the release of a new mineral resource estimate for the Juanicipio ...
Nigeria will only grant new mining licences to companies that present a plan on how minerals would be processed locally, ...
Brazilian miner Vale said in a filing on Wednesday it had signed a contract to buy a 45% stake in Alianca Energia from ...
No comments have been posted yet ...