Fitch Solutions forecast aluminium prices to average $1,850 per tonne in 2020, up from $1,812 per tonne last year, due to stronger manufacturing and easing trade tensions.
Fitch Solutions expects the underlying aluminium price in the first half of 2020 to be only slightly higher than the 2019 average, since supply is projected to continue to outpace demand, the company said in its aluminium price forecast report on Wednesday January 29.Even with an oversupplied market, Fitch expects demand growth of 1.2% in 2020, compared to 0.6% in 2019, partly on the back of stronger demand from China's construction sector.On the supply side, global aluminium production growth is expected...