Montreal, June 13: Analysts and metals industry sources said on Tuesday that global aluminum prices may fall by 30% by 2010.
At the Global Aluminium Conference hosted by the London Analytical Group CRU, Bear Stearns analyst Anthony Rizzuto said, “I think that the price of aluminum ingots should be between 1,700 and 1,800 Canadian dollars per ton – I think this is to attend this meeting. The opinions of other people are not much different."
He added, "This is equivalent to 77-82 cents per pound, which is higher than our forecast of 3-5 years ago."
Pricing refers to the long-term equilibrium price, not the metal spot price, which may fluctuate significantly. The three-month aluminum of the London Metal Exchange (LME) closed at 2,455 US dollars per ton on Tuesday.
Robinson, CRU's aluminum business manager, said, "Looking forward to the future, it will be mainly affected by the supply of alumina and the nominal aluminum price will fall to $1,800 by 2010."
At the Global Aluminium Conference hosted by the London Analytical Group CRU, Bear Stearns analyst Anthony Rizzuto said, “I think that the price of aluminum ingots should be between 1,700 and 1,800 Canadian dollars per ton – I think this is to attend this meeting. The opinions of other people are not much different."
He added, "This is equivalent to 77-82 cents per pound, which is higher than our forecast of 3-5 years ago."
Pricing refers to the long-term equilibrium price, not the metal spot price, which may fluctuate significantly. The three-month aluminum of the London Metal Exchange (LME) closed at 2,455 US dollars per ton on Tuesday.
Robinson, CRU's aluminum business manager, said, "Looking forward to the future, it will be mainly affected by the supply of alumina and the nominal aluminum price will fall to $1,800 by 2010."