Goldman Sachs Cuts Aluminum Price Target on 3-Month, 6-Month and 1-Year Horizon

Published: Apr 6, 2023 10:34

Save

It was reported on April 5 that Goldman Sachs has revised its forecast for aluminum price target.

It was reported on April 5 that Goldman Sachs has revised its forecast for aluminum price target. The investment bank now sees aluminum prices at $2,650/mt, $2,800/mt and $3,200/mt on a 3-month, 6-month and 1-year horizon respectively, down from its previous forecasts of $2,850/mt, $3,100/mt and $3,750/mt.

Goldman Sachs now expects aluminum prices to average $2,700/mt in 2023, also below its previous forecasts of $3,125/mt.

Market Market

Data Source Statement: Except for publicly available information, all other data are processed by SMM based on publicly available information, market communication, and relying on SMM‘s internal database model. They are for reference only and do not constitute decision-making recommendations.

For any inquiries or to learn more information, please contact: lemonzhao@smm.cn

For more information on how to access our research reports, please contact:service.en@smm.cn

Related News

4 hours ago

Guinea to Introduce Bauxite Export Controls Next Month, Alumina Rises in Night Session

Guinea's Minister of Mines confirmed that the country will introduce a bauxite export control plan next month (June), with the core objective of "controlling exports and rebounding prices." Previously, Guinea's bauxite exports reached 183 million mt in 2025, surging 25% YoY, yet prices nearly halved from the early-year highs, with officials explicitly stating that "supply should not exceed demand." Driven by this news, during the night session on the 25th, the most-traded alumina futures contract on SHFE rose by over 4% at one point, with prices reaching a high of 2,837 yuan/mt.

4 hours ago

10 hours ago

[SMM Aluminum Flash News] Vietnam’s THACO Plans USD 4.4 Billion Bauxite and Alumina Expansion

Vietnamese industrial group THACO is accelerating plans to expand its bauxite and alumina business in Lam Dong Province with proposed investments worth about USD 4.4 billion. The Lam Dong 2 alumina project, valued at around USD 1.9 billion, is designed to produce 2 million tones of alumina annually, with the first 1 million-tone phase targeted for commissioning by 2030. THACO also plans a USD 2.5 billion bauxite mining project with annual ore extraction capacity of about 12 million tones. In addition, the company is studying downstream industrial parks covering aluminum smelting, titanium processing and chemical production. If approved, the projects could turn Lam Dong into one of Vietnam’s largest integrated aluminum industry hubs.

10 hours ago

[SMM Aluminum Flash News] China Studies Coal Waste as New Source of Critical Metals

China is exploring the recovery of critical metals such as germanium, aluminum, lithium and gallium from coal waste to strengthen domestic strategic mineral supply. Research shows that fly ash and gangue generated during coal mining, washing and combustion may contain recoverable metals used in batteries, semiconductors, electric vehicles and defense industries. With China’s large coal sector and mature industrial network, existing coal washing plants, chemical facilities and power stations could potentially be adapted for metal extraction. However, differences in coal waste composition across regions continue to create challenges for large-scale and standardized recovery.

10 hours ago