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Industrial metals. liquefied natural gas and steel are set to finish 2017 on top of the world as a crackdown on pollution in China. the world’s no.2 economy. boosts demand for cleaner fossil fuels and raw materials vital to clean-tech industries.
For 2018. analysts predict more of the same: accelerating growth in major economies and increased infrastructure spending will drive price rises for industrial commodities and energy sources beyond the multi-year highs they’re now touching.
“I think we have seen the end of low commodity prices as funds are expected to focus on commodities in 2018. with strong economic growth.“ said Terry Reilly. senior commodities analyst with Chicago-based Futures International.
Metals used in the booming renewable energy sector. including copper for transmission lines and solar panel wiring. have seen strong demand and price rises. as have materials like aluminum used in electric vehicles.
Copper and aluminum have risen by almost a third this year to four-year highs in the last trading week of 2017 of $7.259 and $2.270 a ton respectively.
Pan Pacific Copper. Japan’s biggest copper smelter. expects copper prices to rise more than a quarter over the next two years as global demand continues to grow and out paces supply.
Shanghai rebar futures have climbed almost 45 percent this year. to over 3.815 yuan ($585.62) per ton. driven by the closure of low-quality Chinese steelmaking plants and production curbs – to fight pollution. High construction activity also supported steel.
