Aluminum futures have been trading above $2,000 per tonne in January, not far from an over 2-year peak of $2,067/tonne reached in December and are expected to remain strong in the next months, on the back of tight supply coupled with strong demand from China and the US and higher freight costs. In 2020, the aluminum market expanded more than 9% after the relaxation of Covid-19 restrictions and economic and fiscal stimulus boosted aluminum demand.
Historically, Aluminum reached an all time high of 3271.25 in July of 2008. Aluminum - data, forecasts, historical chart - was last updated on January of 2021.
Aluminum is expected to trade at 1951.35 USD/Tonne by the end of this quarter, according to Trading Economics global macro models and analysts expectations. Looking forward, we estimate it to trade at 1831.57 in 12 months time.