BMI raises aluminum price forecast to $2,450/ton
Release time:
2024-11-15
According to news on November 14, BMI, a subsidiary of Fitch Solutions, has raised its 2024 aluminum price forecast from US$2,400/ton to US$2,450/ton. The report said that aluminum prices will rise from the current average level, driven by stronger market dynamics and broader market fundamentals. Although BMI does not expect aluminum prices to reach the highs of earlier this year, "new optimism stems from two key factors: growing supply concerns in the raw material market and broader economic development." In terms of demand, BMI remains optimistic that global aluminum consumption will increase by 3.2% year-on-year to 70.35 million tons in 2024.
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