Morgan stanley revises 2026 price forecast for base metals
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Morgan Stanley has revised its 2026 price forecasts for base metals. Aluminum is expected to reach $3,250/ton by Q2 2026. Zinc prices are forecast to slightly decrease to $2,900/ton, while nickel prices may retreat to $15,500/ton. Lead is expected to average just over $2,000/ton due to surplus. Copper is projected to face a deficit of 260,000 tons in 2025 and 600,000 tons in 2026.
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