METALS OUTLOOK
JANUARY 2020
METALS OUTLOOK by ROYCE LOWE
The overall picture for metals in the year 2020 is still one of uncertainty, and is inexorably tied to Trump’s ongoing tariffs on steel and aluminum. China will continue to make over half the world’s steel and almost 60 percent of its aluminum. It hasn’t really kept its promise to cut back on production.
The coming year will see continuing advances in 3D printing, with the manufacture of larger items and a concentration on metallic materials. Ongoing supply and demand situations and technical advances will be a part of the metals scenario. There may also be a couple of major mergers and/or acquisitions.
Base metal prices are predicted to advance by 4 percent in 2020 as producers rid themselves of inventory. Aluminum prices are forecast to rise by 9 percent, and copper by 7 percent, due to its high demand for electric-vehicle batteries.
Hot-rolled steel coil prices were up in early January from around $537 per ton - early December to around $575; cold-rolled from around $723 per ton to around $775.
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Manufacturing Outlook / January 2020