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Is $3,000 aluminum price just the start? Analysts bullish as metal faces supply crunch

From kitco.com

With gold prices struggling to find any direction around $1,800, attention is turning to the aluminum market as speculative momentum has helped push prices to $3,000 per tonne on the London Metals Exchange. Although prices are down from their multi-year highs, they remain elevated. Aluminum on the LME last traded at $2,899.50 per tonne. Some analysts expect that this is just the start of a more significant rally. Analysts at Citi said that they could see prices rising to $3,100 per tone in the next 12 months as they expect to see lower Chinese production create a 1.1 million tonne deficit in the market for 2021. ... (full story)

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  • Category: Fundamental Analysis