Aluminum prices expected to reach $3,000/ton by end-2022
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Update time : 2021-06-02 22:59:54
It was reported that global demand for aluminum was expected to rise as China's production may be affected.
Last month, Fitch Solutions raised its aluminum price forecast from US$1,850/ton to US$2,050 for this year due to concerns about supply and the current tight market.
Besides, ING Group, a Dutch multinational banking and financial services company, said that the global demand for aluminum will keep strong, which will widen the supply gap. The global aluminum market will continue tightening into deficits by 2025.
The Trading Economics website predicted that the aluminum prices will rise to US$3,000/ton by the end of next year. The supply shortage will be 480,000 tons in 2022 and rise to 1.08 million tons in 2023.
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