Higher aluminum supply in China to limit prices
Fitch Solutions, a market analyst, said in its latest report that as global economic growth is rebounding as expected, global aluminum demand will have a greater recovery, which will narrow the oversupply.
According to Fitch, the price of aluminum was forecasted at US$1,850/ton for 2021, higher than the US$1,731/ton during the COVID-19 epidemic period in 2020.
However, with an increase in the aluminum supply in China, the growth in aluminum prices will be limited accordingly.
