The reopening of China's economy has driven manufacturing, and stock analysts predict that industrial metals and steel prices will rise in line with demand, but the rise depends on the speed of China's economic recovery and the next evolution of the global macro situation.

Prices of industrial metals and steel slumped more than 13 percent in 2022 as Chinese demand weakened, but prices have recovered since China changed its policies to contain the coronavirus outbreak earlier this year.

Metal and steel prices will rise by 3% this year, with aluminum, copper and steel prices forecast the best.

“These metals will benefit the most from a recovery in China, which accounts for 50% of global demand for these metals. Aluminum and copper prices should find support from tight demand, while the steel market is expected to recover as demand recovers and prices rise. better.