Price of non-ferrous metals during 2023
Metals are essential for different industrial and commercial sectors throughout the world. This leads, at the same time, to it being a dynamic and moving sector, leading the various companies in the market to pay attention to what is happening with metal prices and the way in which they evolve over time. . Therefore, on this occasion we are going to talk about the way in which the prices of the main non-ferrous metals evolved throughout the year 2023, what the particularities of these metals are and how their movement has been.
NICKEL:
Regarding nickel, this metal experienced a continuous drop in its price throughout the year. Although there were slight recoveries in several months in the first half of the year, the movement was one of decline in general.
The metal started the year at more than $31,000 a ton. In January it had a sharp fall that took it to approximately 26,000 dollars, but recovering in February towards 30,000. However, starting in March the price began to drop almost steadily. By December 2023, the price of nickel stood at approximately $16,000 per ton, half the price at the beginning of the year.
COPPER:
Let’s start by addressing the price of copper. This metal began the year 2023 with an exponential rise in its price. Towards the last days of 2022, the price of copper stood at approximately $8,200 per ton. Already towards the end of January 2023 it reached its peak for what would be the year, exceeding $9,400 per ton.
Subsequently, the price went down, but with progressive improvements, in what was a year of extensive movement. One of its lowest points was in September 2023, where it crossed the floor of $7,800 per ton. However, it was able to close the year at just over $8,400, similar to the year’s starting point.
TIN:
Unlike what happens in the previous case, tin has had significant downward and improving movements in its price throughout the year. Tin began the year with an interesting recovery in its price, starting from around $25,000 per ton in December 2022 and reaching $32,000 per ton in January 2023. However, in the month of February it fell substantially, reaching $22,000 per ton. ton towards March of the same year. From this point, tin experienced progressive recoveries, reaching more than $29,000 per ton between the months of July and August. From this point on, it fell again with slight increases, closing the year close to $26,000.
These are the movements that the main ferrous metals that play such an important role for various industrial sectors around the world have had during 2023.
Source: LME.COM
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