The global metals and mining industry outlook has changed from ‘positive’ to ‘stable’, with a new Moody’s Investors Service report finding that despite most metals prices exceeding historical marks, that doesn’t mean they will improve from current levels.
The high current price levels are expected to fade despite expected high overall demand for metals and mining throughout the period. Moody’s sees most base metals prices showing signs of steadying in 2022 after reaching historical peaks this year.
In its report covering the medium-term outlook for iron ore, steel, coal, aluminum, gold, silver, nickel, copper and zinc, Moody’s expects most prices would exceed historical marks.
“We expect industry’s earnings before interest, taxes, depreciation and amortization 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 in a statement sent to MINING.COM.
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