A Look at Covid-19 Effects on Industrial Metals One Year Later
At the onset of the coronavirus pandemic in March 2020, metal prices declined significantly, prompted by a collapse in the demand for metals. Capital spending cuts in the mining sector and mine closures imposed to control the virus’ spread also disrupted both the long-and short-term supply of metals. Today the metals market is at an entirely different level with iron ore and copper prices hitting new highs. Cobalt and nickel metal prices reached two- and seven-year highs in February and March of this year. Government stimulus has aided in the growth in demand for metals and facilitated metal price recoveries.…
