Improving business conditions, despite persistent risk, means Moody’s Investors Service has changed its global Metals & Mining outlook to stable from negative.
Modest improvements in the US and Europe, as well as China´s reopening of the economy, supports demand for base metals, steel and coal, improving the business conditions for the global metals and mining industry.
“Metal commodity prices will remain volatile and historically high during the outlook period responding to economic growth and activity indicators in China and major economies”
— Barbara Matto, Senior Vice President, Moody´s Investors Service
However, Moody’s warn credit fundamentals will remain volatile, as they maintain their 12-month price assumptions and medium-term sensitivity ranges for all commodities except coal.