April 19, 2021
- LME prices are up… % y/y to near three-year highs amid strong physical and speculative buying. In the last twelve months, LME aluminum prices have rallied by…
- LME prices above $… per mton appear unsustainable at this point in the cycle. Technically, the next resistance target for LME prices stands around $…
- Under our base scenario (…% odds), we expect LME prices to average $… per mton in 2021 and $… per mton in 2022.
- Under our upgraded upside forecast scenario (…% odds), we are now factoring in the possibility that LME prices could indeed test levels as high as $… per mton in the next few months, averaging $… per mton this year and $… per mton in 2022.