Trafigura says aluminium rally is ‘over done’ as supply returns
Aluminum prices should decline by at least 6% over the next six months as supply returns to the market and high interest rates continue to crimp manufacturing demand, according to an analyst from Trafigura Group, one of the biggest traders of the metal.
“We’re looking at a very grim demand picture right now,” metals analyst Henry Van said at the CRU World Aluminum Conference in London on Wednesday. “It’s a fundamentally overdone rally.”