Commerzbank Lowers Price Forecast for Copper, Aluminium, Zinc and Nickel for 2023 and 2024

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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