Aluminium futures were trading around the $2,450 per tonne level in June, not far from a three-year high of $2,548 touched on April 18, with markets basking in the glow of tightening stocks and continued robust demand from the automotive, packaging and construction sectors. Supply continues to remain quite scarce as mills have been struggling to find labour and transportation at a time when global aluminium consumption is seen rising 8% to around 69 million this year.
Historically, Aluminum reached an all time high of 3271.25 in July of 2008. Aluminum - data, forecasts, historical chart - was last updated on June of 2021.
Aluminum is expected to trade at 2435.51 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 2286.01 in 12 months time.