Weak demand dragging on base metals in 2024

BASE metals are in for a subdued 2024 with weak demand damping any bullish supply pressures, judging by the latest Reuters poll of analysts.

Only copper and aluminium are expected to see average higher prices this year and expected gains relative to 2023 are highly modest at 2.8% and 2.1% respectively. Zinc, lead and tin are all expected to decline in price, albeit to an equally modest degree.