LME main commodity international prices (2024. 10. 28.~11.01.)

October average prices are as follows (Unit: USD/ton).

- Cu / Copper : 9539.24

- Pb / Lead : 2035.96

- Zn / Zinc : 3102.91

- Al / Primary Aluminium : 2598.39

- Ni / Nickel : 16804.57

- Sn / Tin : 32217.17

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During the period from October 28 to November 1, 2024, the LME prices of major metals showed slight fluctuations due to various factors.

Copper : Copper prices saw a slight increase, primarily driven by rising energy costs and global supply chain issues. In particular, energy shortages in China and Europe, affecting copper production and processing, placed upward pressure on prices. Production issues at key mines also contributed to this trend.

Aluminium : The aluminium market responded sensitively to fluctuations in energy costs, with Europe's energy crisis and resulting production disruptions significantly impacting prices. However, the market was relatively stable in the last week of October, as a stronger US dollar increased raw material purchasing costs.

Nickel : Nickel prices faced upward pressure from increasing demand for electric vehicle (EV) batteries amidst supply shortages. The continued supply chain challenges and demand in China’s EV battery sector were major factors driving up nickel prices. However, some profit-taking at the end of the week led to a slight stabilization.

Zinc : During this period, zinc prices faced downward pressure mainly due to concerns over supply surpluses. Forecasted supply issues arose from revised production guidelines and project delays at some companies. While additional supply adjustments could positively influence prices, short-term upside potential remains limited.

Lead : The lead market experienced downward pressure due to oversupply concerns, driven by increased production in China. Supply surpluses, amounting to approximately 0.9% of total demand, are expected to continue this year, putting pressure on lead prices. It is anticipated that prices will remain stable without major fluctuations.

Tin : Tin prices showed a recovery trend as demand from the semiconductor industry grew. The mining ban in Myanmar has impacted supply, supporting price increases. Tin prices in 2024 are expected to remain stable, with upward pressure from supply shortage concerns.

These fluctuations are mainly due to changes in global energy prices, demand for raw materials for EV batteries, and shifts in economic and monetary policies worldwide.