Fitch Ratings has expanded its global metals and mining price assumption set by adding platinum group metals (PGMs), lithium and cobalt. We have also increased some short- and medium-term price assumptions, including those for copper, zinc, gold and the Newcastle thermal coal benchmark. The increased 2024-2025 copper assumptions reflect supply disruptions following the cessation of mining at Cobre Panama, reduced production guidance from Anglo American and major Chinese copper smelters announcing output curtailments in response to tightening copper ore supply. Our assumptions for iron ore, metallurgical coal, ... (full story)