Bernstein Maintains Aluminum Price Forecast Amid Improved Supply Conditions
Despite improved supply conditions following a ceasefire around the Strait of Hormuz and faster-than-expected recovery in Middle Eastern production, Bernstein has kept its second-half aluminum price forecast at $3,100 per ton. The firm notes that while geopolitical risk premiums have eased, physical supply remains tight, with China expanding smelting capacity and domestic demand subdued.
Topics: aluminium China production geopolitical risk supply chain recovery