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Aluminum Outlook conference gives final forecast for aluminum price
Edited by : AL CIRCLE
1 min read
“There’s nothing new under the sun — history is a good way of analyzing the future.”
With that, Jorge Vazquez began wrapping up this year’s Harbor Aluminum Outlook conference with his final forecast of the price of aluminum for the year. (If you’d like the exact numbers, check out Harbor’s value proposition — their analysis and forecasting is generally always solid.)
However, even Harbor’s forecast from last year was much too bullish for what the market is seeing now — severe undervaluation, with LME prices hovering around $1,950 per ton. The intelligence firm has had to reevaluate, and now doesn’t see prices rebounding for another few quarters at the very least. (For some drivers of the forecast, here’s an earlier post.)
The consensus view, according to Vazquez is that most other analysts see higher aluminum prices for 2013, and expect that $2,200 per ton is the lowest average price we’ll see.
With that, Jorge Vazquez began wrapping up this year’s Harbor Aluminum Outlook conference with his final forecast of the price of aluminum for the year. (If you’d like the exact numbers, check out Harbor’s value proposition — their analysis and forecasting is generally always solid.)
However, even Harbor’s forecast from last year was much too bullish for what the market is seeing now — severe undervaluation, with LME prices hovering around $1,950 per ton. The intelligence firm has had to reevaluate, and now doesn’t see prices rebounding for another few quarters at the very least. (For some drivers of the forecast, here’s an earlier post.)
The consensus view, according to Vazquez is that most other analysts see higher aluminum prices for 2013, and expect that $2,200 per ton is the lowest average price we’ll see.
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