08 OCTOBER 2014AlCircle.com
Morgan Stanley releases its aluminium predictions for coming year
Edited by : AL CIRCLE
1 min read
The increasing use of aluminium in the automobile industry and continued rationed production has led Morgan Stanley to predict a higher aluminium price for the next year, up by 8 percent.
In a recent report, Joel Crane suggested that in 2015 the industrial metal will rise to $2,072/mt, while the forecasted rise for this year is 3 percent at $1,893/mt. The average LME price for this year has been around $1,870/mt.
The lightweight, industrial metal has had an exceptional year seeing a rise of 8.6 percent with increased demand and producers outside China cutting down their supply to stabilize the years of surplus. The surplus which is a recorded 620,000 tons in 2014 will simmer down to 310,000 tons in 2015, then to 280,000 in 2016 and finally leading to a deficit of 230,000 tons as per the report.
Stanley predicts the global demand for aluminium will rise 6.6 percent this year and 7.4 percent next year thanks to the increased popularity of the metal with carmakers and ever-increasing consumption in China.
In a recent report, Joel Crane suggested that in 2015 the industrial metal will rise to $2,072/mt, while the forecasted rise for this year is 3 percent at $1,893/mt. The average LME price for this year has been around $1,870/mt.
The lightweight, industrial metal has had an exceptional year seeing a rise of 8.6 percent with increased demand and producers outside China cutting down their supply to stabilize the years of surplus. The surplus which is a recorded 620,000 tons in 2014 will simmer down to 310,000 tons in 2015, then to 280,000 in 2016 and finally leading to a deficit of 230,000 tons as per the report.
Stanley predicts the global demand for aluminium will rise 6.6 percent this year and 7.4 percent next year thanks to the increased popularity of the metal with carmakers and ever-increasing consumption in China.
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