Base Metals Record Smashing Gains In 2017

Improving global economic prospects helped lift base metal prices to record highs in years. MCX Copper soared 25% in 2017 while Aluminium added 23%. Lead, Nickel and Zinc all scored impressive gains of 18.23%, 13.53% and 22% respectively. The Organisation for Economic Co-operation and Development (OECD) said in its Economic Outlook, that the global economy has strengthened as monetary and fiscal stimulus underpin improvement in growth rates across most countries. The Paris-based think tank forecast global economy to grow 3.6 percent in 2017, instead of 3.5 percent projected in September. The outlook for 2018 was retained at 3.7 percent. The global GDP is forecast to expand 3.6 percent in 2019.