Wild 2021 for metals: Copper, tin shine as gold falters, iron ore sinksJOHANNESBURG – Metals are capping off a tumultuous 2021 dominated by supply squeezes, China’s proper- ty-led economic slowdown and a global energy crisis that hints at more disrup- tions to come.Last year saw copper hit- ting a record as the pandem- ic roiled supply and demand, but tin was the star perform- er as base metals marched higher. Gold bulls were ulti- mately left disappointed even as inflation raged. And ironore suffered a boom-to-bust collapse from above $200 a ton to below $100 on China’s waning appetite.The contours of 2022’s oth- er major drivers are already visible. Dangerously low in- ventories was a theme across metals that will carry into next year – especially if the global economy continues to im- prove. Beijing’s stimulus mea- sures might put a floor under China’s steel woes, while US Federal Reserve tightening and stubborn inflation is […]
Wild 2021 for metals: Copper, tin shine as gold falters, iron ore sinks
