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While demand is increasing, mining companies face challenges in obtaining environmental permits for new projects.
Iron ore was a clear commodity outperformer in 2020, owing to the substantial increase in demand driven by China’s infrastructure.
Credit ratings agency Fitch Ratings has increased most of its short-term metals and mining price assumptions on the back of syncronised global economic recovery post-COVID-19, which has driven higher commodity prices.
Iron ore was a outperformer in 2020, owing to the increase in demand driven by China’s infrastructure stimulus and supply constraints.
Fitch Ratings has lowered short-term price assumptions for aluminium, nickel, copper, zinc and thermal coal due to COVID-19 pressures.
The outlook for the mining sector has become more clouded in recent months due to trade tensions between the US and China.