Aluminum prices to benefit from China's emission reduction targets
According to the latest report released by Morgan Stanley, China's emission reduction targets will have a great impact on the aluminum market in the long term, and aluminum prices will also benefit from the target.
It was estimated that China set a ceiling for the annual aluminum production capacity at 45 million tons. China’s demand for aluminum was expected to go beyond supply after two years.
The forecast showed a better output for aluminum prices compared to copper. The growth in global copper mine supply was predicted to exceed demand in 1-2 years, and copper prices may face pressure in 2022-2023.
