China’s war on smog lifts metals to multi-year peaks
Metals used in the booming renewable energy sector, including copper for transmission lines and solar panel wiring, have seen strong demand and price rises, as have materials like aluminium used in electric vehicles.
LONDON: Industrial metals, liquefied natural gas and steel finished 2017 in stunning fashion as a crackdown on pollution in China, the world’s no. 2 economy, boosts demand for cleaner fossil fuels and raw materials vital to clean-tech industries.
The world’s most traded commodity, oil, rallied to finish the year at levels not seen in more than two years on increased demand and efforts by major producers to cut supply.
For 2018, analysts predict more of the same: accelerating growth in major economies and increased infrastructure spending driving prices for industrial commodities and energy sources above current multi-year highs.
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