Foreign media news on December 21: Commerzbank released a research reportCopper prices are expected to be further substantial** in 2024, recovering to US$9,200 per tonne;The bank's analysts expect aluminium prices to reach US$2,800 a tonne by the end of 2024The zinc price at the end of 2024 was US$2,700 per tonne.
Nickel traded** at around US$20,000 per tonne at the end of 2024.
[Fitch Ratings says China's economic stimulus and industrial recovery will boost global mining demand in 2024].
Foreign media news on December 21: Fitch Ratings reported that China's economic stimulus and industrial recovery will boost global mining demand in 2024.
According to the report, China's economic stimulus continues and the industrial recovery of developed countries will support the demand for base metals and steelmaking raw materials in 2024. Demand for base metals will increase in 2024, of which China's aluminum demand will continue to grow.
Other highlights of the report include:
1) Fitch says battery production will be key to nickel consumption growth in 2024;
2) Iron ore and metallurgical coal demand will be basically flat in 2024;
3) Monetary policy changes and geopolitical conflicts will remain the main drivers of investment demand in 2024**.