China's 10 industries' outlooks for 2024

Non-ferrous metals

The macro-economic pressure led to a decline in the prosperity of the non-ferrous metals industry in 2023. With the macro-economic environment improving, market demand rising, and global monetary policies turning in 2024, the industry is expected to experience a process of weakening to strengthening.

The rapid development of industries such as AI computing power and humanoid robots will drive the demand of core metal materials.

Some companies expressed optimism to the precious metals sector that represented by gold in 2024, due to central banks have high willingness to allocate the gold in the future, and the hedging function of gold is also concerned by investors under the situation of global uncertainty increasing; in addition, the US Federal Reserve will start cutting interest rates in 2024, which is expected to catalyze gold price rising in the future.