What distinguishes these first two months of 2021 is the sharp rise in the prices of base metals. On Monday 22nd February the copper rose to 9,075.5 dollars a ton, reaching peaks never reached before.
Also as regards nickel, the price has undergone a strong increase in recent weeks, rising to the current 19689.00 dollars a ton.
Turning instead to aluminum, which reached $ 2,153.5 / mt, we can see an upward trend in prices for the next few months.
Finally, zinc, after a decrease in prices in 2020, has seen a gradual recovery to reach $ 2,889.50 per ton in February 2021.
The growth in demand is mainly linked to the economic incentives launched by the various global governments and the construction of new infrastructures for post-Covid-19 economic recovery projects. Based on the latest forecasts, the stability and upward trend should remain constant throughout 2021.
To learn more about the ferrous and non-ferrous metal prices, read our article: Ferrous and non-ferrous metals market: trends and forecasts and follow our monthly updates.