According to foreign news on May 31, Commerzbank said that it expects copper prices to stand at $9,000/mt at the end of 2023 and at $9,400/mt at the end of 2024.
This is down from its previous estimates of $10,000/mt at end-2023 and end-2024.
The bank expects aluminium prices to climb to $2,600/mt by the end of 2023 and $2,800/mt by the end of 2024. The previous forecast was $2,800/mt and $3,000/mt, respectively).
Commerzbank expects zinc prices to be $2,500/mt by the end of 2023 and $2,700/mt by the end of 2024. Both of the previous forecasts were $3,400/mt).
Nickel prices will stand at $23,000/mt by the end of 2023, down from the previous forecast of $29,000/mt, before falling to $20,000/mt (the previous forecast was $26,000/mt) by the end of 2024, the bank said.
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