Analysts: aluminium price to stabilise in mid-decade

Aluminium is increasingly used in shipbuilding. The size of ships with hulls made entirely of aluminium is increasing. Aluminium structures are also used in combination with steel hulls and superstructures, such as: whole or parts of the highest decks of multi-deck vessels (e.g. cruise ships, ferries), whole deckhouses and whole superstructures or one- or multi-storey parts of superstructures, chimneys, masts, stairs, platforms, etc. How will aluminium prices develop?

Also, shipyards and production facilities in Poland build both entire aluminium hulls (usually partially equipped, as subcontractors for foreign shipyards), as well as various ship structures, such as masts, chimneys, decks, etc.

The average aluminium price will be $2,450 per tonne this year, rising to $3,250 per tonne in 2023, investment bank Goldman Sachs forecast. It added that the price of the metal, which is one of the key to decarbonising economies, will stabilise by the middle of the decade.

Goldman Sachs analysts have published a new aluminium price forecast. They stressed that the metal is one of the most important raw materials needed for the decarbonisation of economies, while its production pollutes the environment.

According to analysts, in 2021, aluminium will reach an average price of $2,450 per tonne. In 2022, it is expected to be “$2,900/t, in 2023 $3,250/t” – indicated in Monday’s bank release.

According to GS, the aluminium price will reach a stable level in the middle of the decade – in 2024 it will be $3,400 per tonne, and in 2025 – 3 500 dollars.

As conveyed in the information, the bank’s economists raised “the 12-month target price to $3,000/tonne from $2,650/tonne, an increase of nearly 20 per cent”. It added that aluminium “is currently in the early stages of a multi-year bull market”.

rel. PBS/PortalMorski.pl