Price of non-ferrous metals during 2022
2022 was a marked year for various reasons where the global values of raw materials such as non-ferrous metals were affected. During the year, metals had high and low peaks in their prices per ton. There were several factors. One of them is the war in Ukraine that destabilized the prices of raw materials globally. On the other hand, on March 7 there was an abrupt rise in the prices of non-ferrous metals due to “margin calls” on the stock market that increased prices by up to 250%. LME’s intervention was key to correcting those prices. Thus, it should also be noted that 2022 was a year where marine freight logistics played a leading role with its high service rates compared to other years. Finally, Argentina had a difficult year in relation to access to the dollar currency for the importation of products.
Below we present some of the non-ferrous metals with their fluctuations during 2022.
NICKEL:
The nickel price for the year 2022 presented an important variation, beginning the year at $20,700 dollars per ton and reaching its maximum value on March 7 with $43,000 dollars per ton. However, on July 15, the value dropped to $19,100 per ton, its lowest value for the year. From that moment on, the value of nickel began to rise until reaching a high level again, ending the year 2022 at $30,400 dollars per ton with an upward trend.
COPPER:
The price of copper has experienced a stable variation throughout the year 2022. At the beginning of the year it was at $9,650 dollars per ton, but on March 7 it reached its maximum value of $10,730 dollars. However, then on July 15 it fell to its low value of $7,000. Copper prices have been stable since then and the year 2022 ended with a price of $8,387 dollars per ton.
TIN:
During the year 2022, the price of a ton of tin varied significantly. The price began the year at $39,400 dollars per ton and reached its maximum value on March 7, when it reached $50,000 dollars per ton. However, the price fell significantly during the second half of the year, reaching its lowest value on October 31, when it reached $17,700 per ton. The price of a ton of tin ended the year 2022 at $24,750 dollars, with a trend towards stable prices.
NICKEL:
The nickel price for the year 2022 presented an important variation, beginning the year at $20,700 dollars per ton and reaching its maximum value on March 7 with $43,000 dollars per ton. However, on July 15, the value dropped to $19,100 per ton, its lowest value for the year. From that moment on, the value of nickel began to rise until reaching a high level again, ending the year 2022 at $30,400 dollars per ton with an upward trend.
Source: LME.COM
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