BofA Sees Aluminum Prices Trading At $3,000/t ($1.36/Pound) Next Year; Expects Aluminum Supply To Rise By Only 1.3% YoY In 2025, Versus 3.7% On Average In The Past Decade
Portfolio Pulse from Benzinga Newsdesk
Bank of America forecasts aluminum prices to reach $3,000 per ton next year, with a supply increase of only 1.3% year-over-year in 2025, compared to a 3.7% average over the past decade.
September 23, 2024 | 2:43 pm
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POSITIVE IMPACT
Alcoa Inc. may benefit from rising aluminum prices as BofA forecasts $3,000/t next year, with limited supply growth.
Alcoa, a major aluminum producer, stands to benefit from higher aluminum prices as forecasted by BofA. The limited supply growth could lead to increased demand and higher revenues for Alcoa.
CONFIDENCE 90
IMPORTANCE 70
RELEVANCE 80
POSITIVE IMPACT
Century Aluminum may see positive impacts from BofA's aluminum price forecast of $3,000/t next year.
As a producer of aluminum, Century Aluminum is likely to benefit from the projected price increase, which could enhance its profitability.
CONFIDENCE 85
IMPORTANCE 60
RELEVANCE 70
POSITIVE IMPACT
Constellium may experience positive effects from the anticipated rise in aluminum prices to $3,000/t.
Constellium, involved in aluminum production, could see improved financial performance due to higher aluminum prices as forecasted by BofA.
CONFIDENCE 80
IMPORTANCE 50
RELEVANCE 60