Metal prices strengthen in August as rising input costs emerge as key hurdle, report says
AI Market Summary
August metal prices strengthened across steel and nonferrous markets, with aluminium up ~3% and copper up ~6%, indicating improved pricing power despite mixed demand. Global crude steel output fell ~4% m/m, while India's production remained resilient. However, the report flags rising and volatile input costs as the main risk to sustaining the recovery, keeping near-term margins and industrial pricing dynamics in focus.
Impact level
● Medium
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NCCO724COPPER2USD/USDT-0.94%
AI Insight · NCCO724COPPER2USD/USDTAI Insight
● Neutral
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Metal prices broadly strengthened in August, with India rebar up nearly 10% month on month and 12% year on year, while hot-rolled coil prices in the U.S. and Europe rose about 3%. Aluminium increased to $3,251 per tonne. Global crude steel output fell around 4% month on month to 149.2 million tonnes in July, with China down about 4% year on year and production outside China up 3%. Australian iron ore prices declined about 2% month on month and 3% year on year, according to a Centrum report.
