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Australia's Department of Industry lowers aluminum price forecast due to trade tensions
2019/10/03
It was reported that Australia's Department of Industry lowered its forecast of aluminum price in the quarterly report due to trade tensions caused by China and the US, and the demand from China, the largest aluminum consumer in the world, kept decreasing.

Although China has implemented some fiscal stimulus measures since last October, the impacts caused by the trade war haven’t been relieved, and aluminum prices and demand were also failed to be supported.

According to the quarterly report, the average aluminum price forecast for 2019 was lowered by 5% to US$1,793/ton, that for 2020 was cut by 14% to US$1,662/ton, and that for 2021 was lowered greatly by 20% to US$1,545/ton.

Besides, the global primary aluminum consumption forecast for 2019 was decreased by 3% to around 64.5 million tons, that for 2020 was cut by 8% to around 63.5 million tons, and that for 2021 was dropped by 13% to 62.4 million tons roughly.
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