Commodities Buzz: Base Metal Prices Supported On Demand Recovery Says RBI

Commodities Buzz: Base Metal Prices Supported On Demand Recovery Says RBI

Jan 12, 2021 07:01 IST capital market

The Reserve Bank Of India (RBI) stated in a latest update that the recent news on vaccine development has kindled hopes of a recovery of demand outside of China in 2021 which will support metal prices, although the likely pull back in demand both in Europe and the US due to the second pandemic induced lockdown constitutes a near term risk to that outlook. The expectation that, going forward, a moderation in Chinas demand will be offset by improvements in the rest of the world, is supporting base metal prices, which have registered a sharp recovery in Q3:2020 from pandemic induced lows.

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