Industry - Global Industry Forecasts - Basic Metals

Industry - Global Industry Forecasts - Basic Metals

World basic metals production grew by 5.7% in 2023 driven mostly by robust production in India and China, while output contracted in advanced economies. However, we see production easing in both China and India from last year's highs, which will see world basic metals production slow to 2.2% growth this year. That said, we are expecting basic metal production in advanced economies to slowly start recovering this year before increasing 4.4% in 2025 after contracting the previous two years as demand and costs pressures improve.

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