Goldman Sachs Warns About Aluminum Shortages, Australia Echoes 'We Don't Want It To Become New Nickel'
Portfolio Pulse from Stjepan Kalinic
Goldman Sachs has raised its aluminum price forecast due to anticipated inventory shortages, predicting prices could reach $4,500 per metric ton in 2024. The demand is driven by the global shift towards renewable energy and electric vehicles. Australia, a major aluminum exporter, echoes concerns, urging policy support to avoid challenges similar to those faced by the nickel industry.
October 25, 2024 | 2:39 pm
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Goldman Sachs has raised its aluminum price forecast, predicting significant price hikes due to anticipated inventory shortages. This is driven by increased demand from renewable energy and electric vehicles.
Goldman Sachs' forecast of rising aluminum prices suggests potential increased revenue from trading and advisory services related to commodities. The bank's analysis highlights a tightening market, which could lead to higher demand for its financial products and services.
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