Aluminum & copper market forecasted to be optimistic after Mar 2024
Time:Mon, 18 Dec 2023 09:51:01 +0800
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At almost the end of 2023, most of the basic metal prices were unstable. Among them, copper and aluminum prices fluctuated on the high side.
In terms of copper, both supply and demand increased. Because of the rapid development of renewable vehicles, photovoltaics, and wind power generators, copper demand is rising.
Regarding aluminum, the Chinese government limited the production capacity, so the supply was not sufficient, and the situation of destocking was obvious. The demand was also low due to the real estate crisis.
From December this year to February next year, the cooper and aluminum were expected to be under off-peak season, so the price might oscillate. However, with the implementation of the stimulation policy from next March, the trend of copper and aluminum prices was forecast to go up. Also, the trend will be impacted by whether the FED decreases the rate and China's economic growth.
