Made in Italy
The month of October opens with a new rise in the prices of basic non-ferrous metals. In the wake of the strong upward trend, prices have reached unprecedented highs compared to last year: aluminium exceeded $ 3,000 per ton on the London Metal Exchange (LME), copper exceeded the $ 10,000 threshold, while zinc reached its highest level in 14 years with $ 3,815 /ton.
The global energy crisis, accompanied by a sharp decline in inventories and critical issues related to the post-pandemic international logistics system, is driving the rise in raw material prices above all.
Specifically, with its peak of $ 3,180 on 18th October, aluminium is driving the rise which records a monthly growth of 7.7% ($ 3,065 / ton) and a considerable positive change of 65.7% compared to the price of October 2020.
In this continually accelerating bull run, copper is also distinguished by a significant increase in prices: prices closed with an increase of 11.1% at 10,161 dollars a ton.
Record surge also for zinc, whose values stand at $ 3,584.00 / ton with a jump of + 18.8% compared to September.
Lastly, as regards nickel prices, a monthly increase of 5% and a return to historical highs of $ 20,035 per ton are reported.
In light of the latest findings, however, the first signs of a changein the current trend are already visible. In all likelihood, there will be price falls that could anticipate further rises until the curve stabilizes.
