Analysts at Standard & Poor’s Global Ratings news raised their forecast for nickel and copper prices, and kept estimates for other metals.
As expected, nickel can rise in price to 14 thousand USD per ton in 2020, which is 8% higher than the previous forecast. This is due to a decrease in production in several large countries, as well as an increase in stainless steel production in China and optimistic expectations regarding the electric car market, the international rating agency said in a statement.
According to experts news, copper prices could rise by 2020 to 7 thousand USD per tonne, which is 3% better than the previous forecast. The expected shortage of metal and “consistently high industrial demand from the largest economies, especially in China,” the S&P GR report notes.
Due to valuable qualities, copper and copper alloys are used in the electrical and electrical engineering industry, in electronics and instrument engineering. There are alloys of copper with metals such as zinc, tin, aluminum, nickel, titanium, silver, gold. Less commonly used alloys with non-metals: phosphorus, sulfur, oxygen. There are two groups of copper alloys: brass (alloys with zinc) and bronze (alloys with other elements). F0orecast for copper prices is very important for economy it is main news.
Copper has a high environmental friendliness, which allows its use in the construction of residential buildings. For example, a copper roof due to anti-corrosion properties, can last more than a hundred years without special care and painting.
The main sources of risk that could affect the outlook are rising interest rates and a trade war between the US and China.
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