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Outlook for metals improves – Moody’s

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Update time : 2021-09-14 20:42:53

In a new report covering iron-ore, steelcoalaluminiumgold, silver, nickel, copper and zinc, Moody's states that most prices will exceed historical marks.

Overall, demand for metals and mining is expected to remain robust throughout 2022.

"We expect industry's earnings before interest, taxes, depreciation and amortisation to increase by about 8% through mid-2022 based on economic recovery supporting demand for base metals, iron-ore, steel and coal," says Moody´s senior VP Barbara Mattos.

Most base metals prices show signs of steadying in 2022 after having reached historical peaks this year.

Among the main base metals, aluminium prices will remain elevated through at least mid-2022, and copper prices will remain strong through at least late 2022 compared with historical averages.

Iron-ore prices will move gradually toward their $70/t to $80/t average levels of 2016 to 2019 beyond 2022.

Tight iron-ore supplies will keep prices above their historical norms through 2022, but prices have retreated sharply from their peaks earlier this year as supplies have increased and demand growth decelerates, Moody's notes.

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