An analyst at Third Bridge, a global research firm, said that aluminum prices have surged in recent weeks due to the decreasing inventories caused by the Russia-Ukraine conflict. It was expected that aluminum prices will continue to rise by 20%-25% in 2022.
Russia’s aluminum supply accounts for around 6% of the global aluminum market. 25% of Russia’s alumina is supplied by Ukraine, which indicated that Russia's aluminum output might fall by a quarter.
Aluminum consumers, including transportation, construction, and aviation industries, are facing high aluminum prices at present, and the manufacturers are likely to pass the additional costs on to consumers, thereby increasing inflationary pressures.
Analyst expects 20%-25% higher aluminum prices in 2022
1 Apr 2022 18:02 reported by Joy Liu
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