FAQs
The surge in prices reflects strong growth in global demand, which is expected to largely persist over H2 2024. LME copper prices are forecast to average about US$9,500 a tonne in 2024 (up from US$8,700 a tonne in 2023), rising to US$9,970 in 2026. Global copper consumption is forecast to grow by about 2.1% in 2024.
What is the metal industry outlook for 2024? ›
We expect US basic metals output to increase by 3.2% in 2024 and 4.5% in 2025, mainly driven by government stimulus like the Inflation Reduction Act. US metals and steel producers have a competitive advantage over their peers in Europe and Japan due to lower energy prices.
What are the top risks for EY 2024? ›
Top risks and expectations for 2024
The ongoing economic uncertainty, growing geopolitical turmoil, cybersecurity, artificial intelligence and other disruptive technologies, labor shortages, cost-of-living crisis and extreme weather events continue to be areas of focus for organizations.
What is the forecast for the mining industry? ›
Production in Mining market is projected to amount to 15,800.00bn kg in 2024. An annual growth rate of 2.04% is expected (CAGR 2024-2029).
What is the gold prediction for 2024? ›
Gold price forecasts
Gold prices are expected to hit $2,500/oz by the fourth quarter of 2024 and $2,600/oz by the end of 2025.
What is the growth forecast for 2024? ›
Global growth is projected to be in line with the April 2024 World Economic Outlook (WEO) forecast, at 3.2 percent in 2024 and 3.3 percent in 2025.
What is the base metal price forecast for 2024? ›
Our current forecast is for the LME cash price to average $2,212 per tonne in 2024, 1.6% lower than last year's average. While aluminium demand growth should improve to 2.8% from 0.9% in 2023, primary production is forecast to expand at a similar pace, accelerating from last year's 1.3%.
What is the iron ore industry outlook for 2024? ›
Market analysis firm BMI, a Fitch Solutions company, has revised down its 2024 iron-ore price forecast from an average of $120/t to $110/t, as subdued demand in mainland China amid the ongoing property downturn continues to exert downward pressure on the iron-ore market.
What is the copper forecast for 2024? ›
Similarly, Fitch Solutions forecasts that copper could average $8,000 per ton in 2024 due to short-term demand from China.
What do audit committees need to know to prepare for 2024? ›
In setting expectations for 2024, audit committees should discuss with the auditor how the company's financial reporting and related internal control risks have changed in light of the geopolitical, macroeconomic, regulatory and risk landscape, as well as changes in the business.
In June 2022, the SEC fined the firm US$100 million "for cheating by its audit professionals on exams required to obtain and maintain Certified Public Accountant (CPA) licenses, and for withholding evidence of this misconduct from the SEC's Enforcement Division during the Division's investigation of the matter".
What is the metal market outlook for 2024? ›
In 2024, conditional on more favourable developments in the industrial outlook and increased steel demand, apparent steel consumption is projected to recover at a lower rate than previously estimated (+1.4% vs. +3.2%). The overall evolution of steel demand remains subject to very high uncertainty.
What is the outlook for the metal industry? ›
Industry Growth: The metals industry experienced a slight downturn (1.97% decline) in 2023, yet remains a massive global sector with over 302000 companies. Manpower & Employment Growth: Demonstrating resilience, the industry added 881000 new jobs in the past year, reaching a global workforce of 21 million.
What is the future of the mining industry? ›
Artificial intelligence will be commonplace in mining operations, as miners use it to interpret data from smart sensors and machine interconnection, and to improve operational safety and efficiency through unmanned, AI-enabled technologies. This will transform mining into one of the safest occupations of its kind.
What is the rate projection for 2024? ›
In fourth quarter 2024 outlooks, Fannie Mae analysts anticipate 30-year rates at 6.4 percent, while the Mortgage Bankers Association predicts 6.5 percent. The National Association of Realtors projects 6.7 percent.
What is the HNT price prediction for 2024? ›
According to our Helium price prediction, HNT price is expected to have a -0.96% decrease and drop as low as by September 08, 2024. Our analysis of the technical indicators suggests that the current market feeling is Bullish Bearish 10%, with a Fear & Greed Index score of 22 (Extreme Fear).
What will mining be like in the future? ›
Artificial intelligence will be commonplace in mining operations, as miners use it to interpret data from smart sensors and machine interconnection, and to improve operational safety and efficiency through unmanned, AI-enabled technologies. This will transform mining into one of the safest occupations of its kind.
What is the crypto price forecast for 2024? ›
Bitcoin's All-Time High in Q4
Prediction: Bitcoin will reach an all-time high in Q4 2024, driven by political changes and regulatory optimism. Review: Bitcoin's price soared to a new all-time high of $73,000 in March 2024, much earlier than our Q4 prediction.