Improved fundamentals prompt Moody’s to adjust higher several commodity price sensitivity ranges

Improved fundamentals amid global economic growth are expected to sustain a higher pricing environment for the global base metals industry, prompting credit ratings firm Moody’s Investors Service to adjust higher the price sensitivity ranges for copper, iron-ore, and metallurgical and thermal coal, the advisory firm stated on Wednesday. “While we still expect volatility and some moderation towards the end of the year, each metal has its own drivers. For copper, it’s supply disruptions and a lower surplus than expected; for aluminium, inventory drawdowns and curtailments – executed and planned in China; for zinc, a deficit position; and for nickel, inventory drawdowns and better supply demand balance developments,” said senior VP Carol Cowan in a news release.