Global Metals Demand to Face Major Headwinds in Q4 This Year
Sucden forecasts copper prices to trade between $8,500 and $9,500 per metric ton (mt) in the fourth quarter.
SEATTLE (Scrap Monster): French-based Sucden Financial is of the opinion that consumer demand for metals is likely to face major headwinds during the fourth quarter of the year.
According to Geordiw Wilkes, Head of Research at Sucden Financial, metals including copper, aluminium, nickel and platinum group metals are exposed to risks of power outages, construction halts, decarbonisation drive and monetary controls in China. However, the impact on prices of some of these metals is likely to be delayed due to pending order backlogs.
Sucden forecasts copper prices to trade between $8,500 and $9,500 per metric ton (mt) in the fourth quarter. The softening of prices is mainly on account of anticipated surge in mine supply from South American countries, especially Peru. This is despite supply disruptions from BHP’s Cerro Colorado copper mine in Chile.
Sucden shared bullish outlook on aluminium prices, with prices expected to range between $2,800 and $3,000 per mt in Q4. The nickel prices are expected to trade in the range $17,000-$19,300 per mt in Q4. Also, it predicted trading ranges for platinum and palladium at $1,760-$2,130/oz and $840-$1,030/oz, respectively.
YOU MAY ALSO BE INTERESTED IN:
- Sims Lifecycle Services Listed as a Representative Vendor in the 2024 Gartner “Market Guide for IT Asset Disposition”
- EMR Hails Step Forward in Innovative Metals-Recycling Project
- November 21, 2024: Scrap Gold Prices Up, Platinum Steady, Silver Down on the Index
- Study Reveals Plan to Boost U.S. Jobs, Reduce Waste and Cut Emissions for 30% of U.S. Plastic Packaging and Textiles
Scrap Metal Prices
Copper Scrap | ||
Alternator | 0.39 | $US/Lb |
#1 Copper Bare Bright | 3.98 | $US/Lb |
Aluminum Scrap | ||
356 Aluminum Wheels (Clean) | 0.77 | $US/Lb |
6061 Extrusions | 0.67 | $US/Lb |
Steel Scrap | ||
#1 Bundle | 360.00 | $US/MT |
#1 Busheling | 380.00 | $US/MT |
Electronics Scrap |