According to a forecast by Bank of America (BofA), the aluminum price was expected to be US$3,000/ton (US$1.36/lb) in 2025.
Besides, the bank foresaw the global aluminum supply will have an increase of 1.3% next year, much lower than the average annual supply growth of 3.7% over the past ten years, showing that the supply growth of the aluminum market will significantly slow down in the future.
The slowdown in supply growth will make the market more tight and push aluminum prices higher.
Bank of America: Aluminum price expected to be $3,000/ton in 2025
24 Sep 2024 15:36 reported by Joy Liu
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