As per the reports in the media, rating agency ICRA has opined that the prices of the non-ferrous metals in the global market is unlikely to correct any further. The prices witnessed correction in the last five months due to ongoing trade war between the US and China.
The agency has stated that the demand-supply fundamentals would not justify any further correction of considerable nature.
Most of the global markets for non-ferrous metals are currently in deficit. Hence, the prices of the metals to further decrease in the near term is unlikely to happen. Copper, zinc and aluminium remained in deficit for the entire 2018.
Speaking specially about the global aluminium industry, ICRA officials have stated that the global market for aluminium has remained in deficit for past six quarters.
Updated On 30-Jan-2019
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