Citigroup foresees aluminum prices to remain at $2,400/ton for next 3 months
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Update time : 2022-08-25 17:36:47
Citigroup analysts said that the LME aluminum price was expected to remain at around US$2,400/ton over the next three months, saying that the increasing disruptions of aluminum supply haven’t impacted the price of this metal.
Citigroup said that approximately 1 million tons of aluminum production capacity has been slashed in Europe, and another 500,000 tons in Europe and 200,000-300,000 tons in the US are under threat. However, the aluminum supply is still in surplus in Asia. China has been increasing its production, while the consumption was expected to decrease.
