BOM - Aluminum Is In Deficit But Prices Don't Reflect Any Shortage
By Stuart Burns
The aluminum price has been fluctuating between around $50/ton above and below a median of $1,900 for several months now.
There is considerable uncertainty as to where it is going to go in 2019, yet some commentators, such as ING Bank, are predicting prices will hit U.S. $2,250/ton by the end of the year on the back of constrained supply.
Of course, we should define what we mean by constrained supply.
There are two aluminum markets: one in China and the other being the rest of the world. They