CITI Research lowered its 2023 zinc price forecast to $2,882/mt from $2,958/mt.

The bank revised down its 2023 aluminum price forecast from $2,561/mt to $2,475/mt; its 2024 aluminum price forecast from $2,900/mt to $2,800/mt; and its 2025 aluminum price forecast from $3,000/mt to $2,900/mt.

The bank revised down its 2023 nickel price forecast to $23,258/mt from $23,443/mt and lowered its 2024 nickel price forecast to $20,000/mt from $22,000/mt.

However, its 2023 copper price forecast was raised from $8,607/mt to $8,733/mt; the 2024 copper price forecast was raised from $9,000/mt to $10,000/mt; the 2025 copper price forecast was raised from $9,000/mt to $10,000/mt.

More popular news

China April Lithium Carbonate Import Volumes And Prices Both Crashed From March, Despite A Surge From A Year Ago

SMM Comment: SHFE and LME Base Metals Mostly Fall, Oil Rise on Supply Jitters after Saudi Arabia Energy Minister Warns He Would Make Short Sellers Suffer, Dollar Falls on US Debt Ceiling Issue

SMM Comment: Oil Falls as Remarks by Russian Minister Contradicts Bullish Signal from Saudi Arabia, SHFE and LME Base Metals Outperform Ferrous Metals, US Core PCE Price Index Highlights Stubborn Inflation, Market Bets on US Rate Cut in September

China To Actively Expand Domestic Effective Demand And Boost New Energy Vehicle Sales, National Development And Reform Commission Says        

Goldman Sachs, Barclays warn: Fed will not cut interest rates this year

Dollar, Oil, Gold, Base Metals, Ferrous Metals All Go Down, EIA Cuts Oil Price Forecast

EIA Cuts Brent and WTI Oil Price Forecasts for 2023 as Recession Fears, Inflation and Banking Crisis Overshadow OPEC's Production Cuts

China's National Bureau of Statistics says there is still room for improvement in residents' purchasing power and willingness to spend

UN and IMF Raise Forecasts for China GDP, Regulators Promise Measures to Boost Growth

Asian Buyers Snap up Cheaper Russian Oil, Putting Oil-Producing Countries in the Middle East and West Africa under Huge Pressure

Chinese Lithium Carbonate Smelters Have Smaller Appetite for Overseas Spodumene Concentrate, April Customs Data Shows

Lithium Carbonate Price Rally Was Not Driven By Robust Demand Recovery

Plummeting Global Demand Sends LME Copper Contango To 20-Year High

SMM Morning Comments (May 23): Base Metals Closed Mostly with Losses on US Macro Headwinds

Balance of M2, M1 and M0 All Rise at the End of April, China’s Central Bank Says

India to become Europe’s top supplier of refined oil products after massive purchases of Russian oil

Goldman Sachs: China will be the only major economy with positive growth this year, bullish bets on new energy vehicles and biotechnology in the long run

CITI Research Lowers Price Forecast for Nickel, Aluminium and Zinc in 2023-2024 But Bets on Higher Copper Prices

Goldman Sachs Cuts Copper Price Forecast Amid Slowing Western Manufacturing, But Bank Of America Bets On Higher Copper Prices, Citing A Surge In Demand From China