SHANGHAI, Aug. 16 (SMM) – UBS raised its forecast for aluminum prices in Q4 2017 and Q1 2018.
Aluminum Bulls Watch Out: Crazy Speculations Mask Poor Market Fundamentals, SMM Warns
The ban now sees aluminum prices at￠95/lb or $2,094/tonne in Q4 2017 and Q1 2018, up from its previous forecast of ￠87/lb.
Where Will Aluminum Prices Head after Hitting Multi-Year Highs? SMM Reports
Shandong announced to close 3.2 million tonnes of illegal aluminum capacity, higher than expectations of the bank and the market.
Aluminum supply might tighten in late 2017. But, aluminum prices may perform far less well than coal prices seen in 2016-2017.
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