December 5, 2022
Forecast for Commodity Prices & Lead Times to Increase in CY-2023
The 124th State of the Fleet Industry video produced by Automotive Fleet offers insights into the state of the fleet market as presented by AF Editor Mike Antich.
🎙Today's topics include:
- Production slowdown of finished commodities is due to labor shortages, not a decreased end-user demand.
- Steel prices have stabilized.
- Shortage of aluminum is anticipated due to simultaneous increased demand from both the aviation and automotive industries
- Copper prices forecast to increase in CY-2023 as automotive EV production increases.
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⌚ Timestamps ⌚
1:18 Skilled Labor Shortages Constraining Production
2:41 Forecast of Aluminum & Steel Prices in CY-2023
5:33 Overbuying of Metals Produces Surplus in 1H-2022
5:59 Reemergence of Supply-Demand Imbalance
9:28 Demand to Drive Up Copper Prices