World Bank analysts believe that prices for industrial raw materials, including energy and metals, will rise strongly in 2017, driven by falling supplies and rising demand.
In a published report on the outlook for commodity markets, the World Bank retained its previous forecast for oil prices in 2017 at $ 55 a barrel, which would mean a 29 percent increase in prices from last year.
The World Bank raised its expectations for metal prices, predicting that prices will rise 11 percent in 2017 as supplies decline and demand from China and developed countries remains strong.
“It looks like prices for most raw materials bottomed out last year and are now on the rise in 2017,” said John Baffes, senior economist and co-author of the Commodity Markets Outlook report.
At the same time, precious metals prices are likely to decline by 7 percent due to rising interest rates and declining purchases from investors looking for safe options.
Energy and metals prices are expected to rise
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Azovpromstal® 27 January 2017 г. 10:40 |
