Base metal prices slip in last 12 months, supply to remain tight in CY23

The prices of base metals lost their shine over the past year as supplies recovered after earlier disruptions and rising input costs and increased availability of raw materials also played their part. The supply of global base metals will remain tight in calendar year 2023, industry experts opine, due to supply issues and low inventory position.

In the past one year, the prices of most base metals – including aluminium, copper, nickel, iron ore and hot rolled coil (HRC) steel – were trading lower by up to 40.3% on the London Metal Exchange (LME), Commodity & Energy Exchange (CMX) and Multi Commodity Exchange of India (MCX).