Fitch raises commodity price assumptions for various commodities for 2025-26

Fitch Ratings has raised its price assumptions for copper, iron ore, and aluminum for 2025 to 2026, reflecting healthy demand; it has also raised the price assumptions for Australian thermal coal, reflecting year-to-date prices and some supply-side adjustments. "We have also raised our short-term and medium-term price assumptions for gold, platinum group metals, zinc, and cobalt, reflecting the tightening supply-demand balance in most markets. We have raised our price assumptions for coking coal, Chinese thermal coal, and lithium for 2025, while lowering the price assumption for nickel to reflect year-to-date market prices."