Future increases in aluminium prices will be driven more by macroeconomic factors rsther than supply-and-demand fundamentals into 2021, analysts said in a panel on Tuesday September 22 during Fastmarkets' International Aluminium Conference.
"The V-shaped recovery that we've been seeing in many of the metals is also macro-driven," Fastmarkets research analyst Andy Farida said.On the London Metal Exchange, aluminium traded at a year-to-date high on September 1, with the aluminium 3 months LME Daily Official price at $1,818 per tonne. Although the price has since dropped back below $1,800 per tonne - to $1,759 per tonne on September 23 - it remained much higher than the $1,459 per tonne to which it...