The release of Mining Journal’s Base Metals Outlook comes at an exciting time, with strong demand and power-related supply disruptions sending industrial metals prices to decade highs.

In mid-October, copper surged above US$10,000/tonne as the global energy crunch combined with threadbare stockpiles and news of further delays to the Rio Tinto’s giant Oyu Tolgoi copper mine expansion in Mongolia. Meanwhile, zinc has hit a near 15-year high, while aluminium has been trading at levels last seen during the Global Financial Crisis of 2008.

Whether or not these prices are sustainable moving into 2022 is the source of considerable debate.

Inside this report:

• Indonesian supply to pressure nickel prices in 2022
• Copper falls from record highs but remains hot
• Chinese steel slowdown to weigh on zinc market
• Soaring aluminium prices set to remain strong
• Where next for tin?

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