December 18, 2024
1. As expected, LME prices have retreated toward $2,500 per mton after failing again to break away from the $…
2. Underlying bearishness persists. Manufacturing contraction continues in the US and Europe, while global end- user aluminum demand remains weak. China’s economy remains in a…
3. Moreover, a correction in alumina prices has started to unfold. Since hitting an all-time high in early December,…
4. HARBOR continues to expect LME prices to fall ahead toward the $… per mton zone while Consensus remains somewhat bullish and expects LME prices to average around $… per mton in 2025. However, HARBOR and Consensus both see prices trading higher in 2026.