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2020, a 'gloom, doom and boom' year for metals amid Covid-19 pandemic

While Covid-19-led lockdowns across the globe destroyed demand in the early part of 2020, a supply cut-driven rally and sharp recovery in the auto sector have emerged as big themes

Trade war to slowdown in demand: Margin pressure on metals to continue
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Price movements in iron ore and copper were particularly sharp. Copper, the bellwether for the global economy, scaled in December to its top levels after 2013, while iron ore is at a lifetime high

Rajesh Bhayani Mumbai
The year 2020 is one of those in which industrial commodities like metals and oil have seen extremes, both on the upside and downside. While Covid-19-led lockdowns across the globe destroyed demand in the early part of 2020, a supply cut-driven rally and sharp recovery in the auto sector have emerged as big themes. Domestic demand for these commodities, for instance, has seen a spike from September and is likely to increase further.

T Gnanasekar, founder, Commtrendz Research and Fund Management, said: “2020 was a gloom, doom, and boom year for metals. The year began on a gloomy note as the

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First Published: Dec 27 2020 | 11:54 PM IST

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