BMI, owned by Fitch Solutions, said, Driven by both stronger market dynamics and broader market fundamentals. Aluminum prices will rise from the current average level. The BMI does not expect aluminum prices to hit the high position at the early of this year, but ” the new optimism stems from two key factors: With growing supply concerns and broader economic development.” While disordr in the raw material market could limit growth in aluminum production, but BMI expects aluminum prices to rise to $2,400 to $2,450 per ton in 2024.
Aluminum demand is expected to rise 3.2% year-on-year to 70.35 million tons in 2024. Supply will increase by 1.9% to 70.6 million tonnes. The BMI analysts believe that global aluminum consumption will rise to 88.2 million tonnes by 2033, with an average annual growth rate of 2.5%.
Post time: Nov-27-2024