Goldman Sachs warns severer aluminum shortages in 2020
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Update time : 2021-11-11 21:29:59
According to Goldman Sachs, a financial services firm, due to China's curtailment of energy consumption and pollution controls, the supply of aluminum becomes much tighter. The demand for aluminum was expected to surpass the output by 1.5 million tons next year, showing that the supply shortage will become severer.
Aluminum price has softened from October’s 13-year high after China's power crisis eased. However, intensified worries about China's economic slowdown, soaring inflation, and concerns in the real estate industry have also impacted aluminum prices.
Goldman Sachs pointed out the market is likely to face a surging price once the downstream destocking ends. The firm also forecasted that China’s aluminum supply pressure may last until after the Winter Olympic Games in early 2022.
