© Archyde.com/Ralph Orlowski
FILE PHOTO: The headquarters of the Commerzbank are pictured before the bank’s annual news conference in Frankfurt
March 8 (Archyde.com) – German bank Commerzbank on Tuesday estimated copper prices to hover between $9,500 and $10,000 a tonne this year, ending 2022 near $10,200 a tonne, amid a rally in industrial metals. generated by a shortage of supply and geopolitical crises.
Commerzbank said, however, that the market turmoil due to the conflict between Russia and Ukraine will continue to affect nickel and aluminum in the short term, although the upward momentum will soon run out.
The bank expects nickel prices to average $34,500 a tonne in 2022. In 2023, the metal will average 30,000 tons.
(Written by Marion Giraldo via the Editorial Board in Santiago)
