Aluminium Prices Set to Rise on Supply Tightness, Commerzbank Says
Commerzbank’s Norman Liebke notes China’s July trade data will be key for base metals, with first-half aluminium output exceeding the official cap and likely forcing production cuts later this year.
Norman Liebke at Commerzbank highlights that China’s upcoming July trade data will be a pivotal factor for base metals, particularly aluminium. The country’s primary aluminium production in the first half of the year already surpassed the government’s official annual ceiling, signalling that output may have to be scaled back in the second half.
Tighter supply conditions, against a backdrop of steady demand, point to upward pressure on aluminium prices.
Source: FXStreet Forex News