LME metal prices rebound drives recovery of steel market
Time:Thu, 28 Dec 2023 09:01:59 +0800
keywords :
As the market expects that the US will cut interest rates quickly and the market balance will tighten next year, various base metals have surged, with copper futures rising to their highest point in recent months. In addition, the Panamanian government recently closed a large copper mine, and Anglo-American has lowered its production forecast for next year.
The market's expectations for an increase in copper supply next year have weakened. With the end of the Christmas holiday, LME metals prices rebounded, bringing positive development to the steel market, which is slowly heading towards recovery.
