Posted on Sep 27, 2021 at 6:49 amUpdated Sep 27, 2021, 7:10 AM
It’s a fact: commodity prices rebounded spectacularly after the crisis, driven by the rebound in Chinese industry. This was particularly the case for metals, the big winners of the various stimulus plans in the United States, Europe and China. Copper set a new all-time high, at over $ 10,500 per tonne in the spring. Aluminum is also testing its highest level. The London Metal Exchange (LME) industrial metals index is back to levels not seen since 2011.
Whether for infrastructure or for the energy transition, the demand for metals seems doomed to increase. To the point that some analysts do not hesitate to speak of a “supercycle” of metals. The term refers to the economic phenomenon of rising prices for all raw materials over at least ten years, essentially linked to an increase in demand to which supply cannot meet.