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What in the world is going on with metal prices?

What in the world is going on with metal prices?

🌎Average estimates of 2025's Q3 vs Q4 (based on the London Market Exchange)

Metal

Q3 Price

Q4 Price

Trend

Notes

Tin

$34,500 /tonne

$40,800 /tonne

 ▲ +18.3%

Tin’s use in electronics solder and batteries means its price jump can ripple into tech hardware and EV components.

Lead

$1,950 /tonne

$2,050 /tonne

 ▲ +5.1%

Modest price increases or delayed model updates as manufacturers manage higher raw-material costs.

Copper

$10,000 /tonne

$11,200 /tonne

 ▲ +12%

Tight supply (and critical role in electrification, power grids, and data centers) suggests high prices through 2026.

Silver

$29.50 /oz
(12/31/2024)

$58.88 /oz
(12/3/2025)

â–˛ +99.6% (doubled!)

Tight supply and strong demand from clean-energy and electronics industries.

Steel (HRC)

$2,650 /ton (US)

$$2,480 /ton (US)

▼ -6.4%

 Construction demand is soft, and inventories are high in Asia and Europe.


 

🔍Consumer Implications and What to Expect Going Into 2026

  • More volatility: Precious and base metals are moving on global economic signals (interest-rate cuts, dollar weakness, China’s demand recovery). These commodity-linked inflation will create common sudden swings.

    • Risk and uncertainty: Jewelry and precious goods will see prices rising fast in the near-term, and can stay elevated with continued silver volatility.

  • Green-transition tension: Structural metals (copper, silver, tin) will stay expensive and is likely to rise further due to clean-energy build out — this long-term inflation anchor for manufactured goods will have a continued upward pressure of higher component costs.

  • Selective consumer benefit: Steel softness and improving supply chains could temper costs in autos, housing, and appliances. Short-term relief to builders and contractors can help offset other cost pressures in construction.

 

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