- Bank of America's outlook on metal prices for 2024 and 2025
Bank of America expects aluminum prices to be $2471 per ton in 2024 and $3000 per ton in 2025; copper prices to be $9432 per ton in 2024 and $10750 per ton in 2025; lead prices to be $2070 per ton in 2024 and $1750 per ton in 2025; nickel prices to be $17387 per ton in 2024 and $17625 per ton in 2025; tin prices to be $30747 per ton in 2024 and $35000 per ton in 2025; zinc prices to be $2764 per ton in 2024 and $2688 per ton in 2025. Gold prices are raised to $2406 per ounce in 2024 and remain unchanged at $2750 per ounce in 2025. Silver prices are $28.14 per ounce in 2024 and $35.38 per ounce in 2025. Platinum and palladium prices are also estimated
Reuters, October 1st - Bank of America (BofA) believes:
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Aluminum prices are expected to reach $2,471 per ton in 2024 and $3,000 in 2025.
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Copper prices are forecasted to reach $9,432 per ton in 2024 and $10,750 in 2025.
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Lead prices are projected to reach $2,070 per ton in 2024 and $1,750 in 2025.
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Nickel prices are anticipated to reach $17,387 per ton in 2024 and $17,625 in 2025.
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Tin prices are predicted to reach $30,747 per ton in 2024 and $35,000 in 2025.
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Zinc prices are expected to reach $2,764 per ton in 2024 and $2,688 in 2025.
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The gold price estimate for 2024 has been raised from $2,365 per ounce to $2,406, and the 2025 estimate remains unchanged at $2,750 per ounce.
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Silver prices are forecasted to be $28.14 per ounce in 2024 and $35.38 in 2025.
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Platinum prices are believed to be $989 per ounce in 2024 and $1,000 in 2025.
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Palladium prices are estimated to be $930 per ounce in 2024 and $700 in 2025.
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"We are also aligning with market expectations, expecting increases in copper, aluminum, gold, and silver prices, but maintaining a cautious stance on commodities."
