According to Caixin news agency, North America’s largest aluminum industry conference warned that the global aluminum supply tension will not be eased in the near future. At the Harbor Aluminum Summit held in Chicago on Sept. 8-10, the consensus view reached by participating producers, consumers, traders and transporters was that the global aluminum supply constraint may take up to five years to ease, with soaring demand, shipping bottlenecks and production constraints in Asia becoming the main factors driving aluminum prices, many participants said, for most of next year Supply shortages will continue to plague the industry, with some participants even expecting it could take up to five years to solve supply problems.
As of the market open at 9:00 on September 13, the Shanghai Aluminum Futures Index has gained more than 50% cumulatively in 2021, while the CRB Commodity Index, which tracks major international commodities, and the Mandarin Commodity Index, which tracks major domestic commodities, have gained around 31% and 23% respectively over the year in the same period. Analysis of aluminum price performance over the same period is significantly higher than the average value of the domestic and international commodity market increases behind the source of power, the root cause is that China, the United States and Europe and other major economies have increased new energy and new infrastructure carbon peak neutral field “arms race” in the context of the new era, aluminum and other metal resources supply and demand framework and market valuation has been irreversibly gorgeous turn, from the Traditional building materials in the field of cyclical goods to the green energy revolution in the inextricable core resource material transformation, which makes aluminum and other non-ferrous metal prices compared to crude oil-led energy and chemical varieties and iron ore-led ferrous metals have more predictable good prospects.
Post time: Sep-13-2021