Base Metals

2023 Base Metals Outlook Report (Updated for Q2)

2023 Base Metals Outlook Report.

Find out what is in store for base metals in 2023!

The Investing News Network (INN) spoke with analysts, market watchers and insiders about which trends will impact this sector in the year ahead.

✓ Trends        ✓ Forecasts       ✓ Top Stocks

Table of Contents:

  • Copper Price 2022 Year-End Review
  • Copper Price Forecast: Top Trends That Will Impact Copper in 2023
  • Copper Price Update: Q1 2023 in Review
  • Nickel Price 2022 Year-End Review
  • Nickel Price Forecast: Top Trends That Will Impact Nickel in 2023
  • Nickel Price Update: Q1 2023 in Review
  • Zinc Price 2022 Year-End Review
  • Zinc Price Forecast: Top Trends That Will Affect Zinc in 2023
  • Iron Price Forecast: Top Trends That Will Affect Iron in 2023
  • Lead Price Forecast: Top Trends That Will Affect Lead in 2023
Base Metals Outlook 2022

A Sneak Peek At What The Insiders Are Saying

“Most, if not all, the reports I've seen have been talking about a large (copper) deficit looming in the not-too-distant future. If you combine a deficit with the lengthening of the timelines to bring on production, there's some very optimistic price forecasts for copper."
— Rob McEwen, McEwen Mining

"(Copper) prices exceeded our expectations in 2022, propelled higher in part by constrained supply growth against a backdrop of low visible inventories."
— Karen Norton, Refinitiv

“We see (nickel) prices hovering between US$20,000 and US$20,500 (per metric ton) over the first two quarters of 2023 before gradually increasing to US$21,000 in 3Q and US$22,000 in 4Q as the global growth outlook starts to improve.”
— Ewa Manthey, ING"

“Although the economic outlook deteriorated in the latter half of (2022), we see fundamental support (for zinc) from the historically low level of exchange stocks, continued constraint on smelter production (and) modest growth in demand.”
— Jonathan Leng, Wood Mackenzie"

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