Aluminium to slide in early 2023 on poor near-term economic outlooks – ING
|Aluminium prices have been highly volatile in 2022.Next year, negative macro sentiment will continue to put downward pressure.
Aluminium faces macroeconomic headwinds
“Looking ahead to 1Q 2023, the risk for Aluminium prices will be mainly to the downside, with the prolonged war in Ukraine, rising energy prices, low gas availability, high inflation and weakening downstream demand all adding to the bearish outlook for the lightweight metal.”
“In the short-term, the market’s focus will remain on the bigger macro-economic and demand-side problems, with prices expected to fall further to $2,150/t in 1Q 2023.”
“We believe a recovery in price should start in 2Q 2023, although any recovery is likely to be slow.”
Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers.