According to him, we can talk about fundamental economic factors.
“First of all, this is a decrease in demand for raw materials caused by crisis phenomena in a number of sectors of the world economy,” the expert explained.
For example, the raw materials-oriented industry in Europe, and many other countries, continues to reduce output, he added.
“Chemical production in Europe decreased by 15% in 2022, metallurgy - by 6.4%.
All this lowers the estimate of demand in the medium term and affects prices.
Yes, the warm weather factor also matters, but it is rather short-term, ”the economist expressed his opinion.
Earlier it was reported that gas prices in Europe fell below $650.