Overall commodity prices surged across borders in the past year on the back of a promising demand outlook. Global central bank infusing massive stimulus packages and a disrupted supply chain following the pandemic led curbs triggered a rally in the Industrial metal prices. That, coupled with Global economies moving towards a zero-emission environment & curbing the usage of fossil fuels and a rapidly growing Electric Vehicle segment is expected to proliferate the demand for industrial metals in the times ahead. However, the recent retreat in commodity prices faded bets over what was believed to be a potential commodity super-cycle. China's attempts to ease commodity prices, a hawkish approach by the US Federal Reserve and China entering into a period of slowdown are believed to be the major factors which took some steam of the rally in base metal prices.
NSTL
