Higher aluminum supply in China to limit prices
Views : 277
Update time : 2021-01-29 17:15:28
Fitch Solutions, a market analyst, said in its latest report that as global economic growth is rebounding as expected, global aluminum demand will have a greater recovery, which will narrow the oversupply.
According to Fitch, the price of aluminum was forecasted at US$1,850/ton for 2021, higher than the US$1,731/ton during the COVID-19 epidemic period in 2020.
However, with an increase in the aluminum supply in China, the growth in aluminum prices will be limited accordingly.
US employment data falls short of expectations, aluminium ingot continues destocking trend this week
