The first quarter of the year was reportedly marked by lower prices, mainly amid fears that the Chinese economy is slowing faster than expected. However, in the near future, the global economy will improve and base metals will experience growth.
The growth of the world and national economy leads to an increase in the use of base and base metals in industries using carbon or stainless steels for the production of various metal structures, containers and tanks, for example, such as hot water storage tank , which ensures the operation of the heating system and the supply of high temperature water even when the heating element is turned off.
Nickel, after falling 42 percent in 2015, fell another 3.7 percent in the first quarter of 2016, and prices peaked at $ 7,580 per tonne in February this year. The metal will continue to remain in the Q2 range between $ 8,000 and $ 9,500 per tonne. Moderate recovery in global stainless steel production is likely to ease pressure on nickel.
Zinc prices have surged 32 percent after hitting lows of $ 1,444.50 a tonne in mid-January. Prices can range from $ 1,725 per tonne to $ 1.925 per tonne in Q2. In the report, the average price for 2016 is projected at $ 1,800 per tonne.
Copper prices have jumped nearly 18.8 percent since mid-January 2016. Low inventory levels on the LME may cause replenishment of the metal. Prices in Q2 will be around $ 4,700 per tonne. However, the report foresees selling pressure as prices approach $ 5,200 per tonne. Supply disruptions and production cuts could cap output growth by 1 percent throughout 2016. The report predicts a 2 percent rise in global copper demand.
Expects lead deficit to rise further throughout the year. Prices can range from $ 1650 to $ 1950 per ton in the second quarter of this year. Throughout 2016, prices are likely to average around $ 1,800 per tonne.
Aluminum prices have delivered a strong recovery from $ 1,432.50 a tonne in November last year to $ 1605 a tonne this year. Throughout 2016, the average price is likely to be around $ 1,500 per tonne.
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