Prices of non-ferrous metals reflect mixed results

On April 11, 2023, the non-ferrous metals prices on the London Metal Exchange (LME) closed a mixed trend. The three-month aluminium futures contract fell 1.3 per cent to $2,302/t, while zinc prices fell 0.4 per cent to $2,779/t. Lead dropped 0.4% to $2,087/t. In the meantime, nickel prices climbed 2.9 per cent to $23,472/t. Copper futures inched up by 0.6 per cent, closing at $8,854/t. According to the Bureau of Labour Statistics, the US has released its March Consumer Price Index (CPI).

The re-opening of the Chinese economy has delivered a positive note to the global metal industry. The nation contributes to around 57-60 per cent of world aluminium production.

AlCircle’s latest industry-focused report, ‘Global Aluminium Industry Outlook 2023’, unveils that the demand for the primary metal is expected to bank on countries that are setting up targets and policies to achieve their respective carbon neutrality goals. Countries in the EU, North America, China and emerging nations like India have set up very specific targets to realise these goals. These measures are expected to be the prime drivers of aluminium usage across various end-use sectors, some of which are heavy carbon emitters. Across the world, automakers and government policymakers have embraced electric vehicles to provide cleaner, safer transportation.

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