Increased Commodity Prices & Lead Times Forecast for CY-2023

AF Editor Mike Antich. offers insights into the state of the fleet market in the 124^th State of the Fleet Industry, produced by Automotive Fleet. 

🎙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 ⌚ 0:00 Intro

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