According to the report released by the Australian Department of Industry on July 2nd, the price of aluminum was expected to average US$1,880/ton in 2019, which will be up to US$1,967/ton in 2020 and US$2,015/ton in 2021, due to the prospective stimulation by the Chinese government’s fiscal policy.
There weren’t any expansion plans for aluminum capacity in Australia in the near future. The production of aluminum was expected to remain at 1.6 million tons annually by the fiscal year 2020-21, and the production of alumina will be stable at 20 million tons.
The report also indicated that the export value of Australian aluminum, alumina and bauxite will slide after reaching a peak of US$16 billion in the fiscal year 2018-19, and it will drop to US$14 billion in the fiscal year 2020-21.
Aluminum prices expected to rise in 2020-2021 due to Chinese fiscal policy
4 Jul 2019 11:27 reported by Joy Liu
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