SHANGHAI, May 3 (SMM) –Macquarie raised its forecast for the average aluminum price in 2017 by 8% from $1,769/tonne to $1,913/tonne.
China’s MIIT announced to begin checks on illegal aluminum smelting capacity from July, which might cause aluminum output to fall in October, Macquarie analyst said. Macquarie sees 1.2 million tonne supply deficit in aluminum market this year.
Production cuts during winter months out of environmental concerns will push aluminum prices above $2,000/tonne, Macquarie predicts.
The article is edited by SMM and is provided for information purpose only. SMM assumes no liability and does not warrant the accuracy, reliability or completeness of information contained or quoted in the article, either express or implied. SMM further disclaims any liability for losses in connection with the information contained or quoted in the article.
For news cooperation, please contact us by email: email@example.com or firstname.lastname@example.org.