SMM5, March 21: according to S & P Global Financial Intelligence Research, due to lower metal prices and blockade measures taken by related countries in response to the epidemic, the global exploration budget in 2020 is expected to fall 29% year-on-year to US $6.9 billion.

Previously, Christopher Galbraith, an analyst at S & P, believed that iron ore would be in balance between supply and demand this year and next.

Due to the interference of the supply side, the price of cobalt will perform better than the price of lithium.

The nickel market will have a surplus of 48000 tonnes, with a projected nickel price of US $11915 per tonne in 2020 and downside risks; a surplus of 90, 000 tonnes of zinc and a surplus of 182000 tonnes of copper.

"from January to March of WBMS:2020, the global copper market has a surplus of 188000 tons.

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