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2023.4

Goldman Raises Aluminum Forecasts on Higher Chinese and European Demand

Goldman Sachs Group Inc. raised its price forecasts for aluminum, saying higher demand in Europe and China could lead to supply shortages. The metal will probably average $3,125 a ton this year in London, analysts including Nicholas Snowdon and Aditi Rai said in a note to clients. That’s up from the current price of $2,595 and compares with the bank’s previous forecast of $2,563. Goldman sees the metal, used to make everything from beer cans to plane parts, climbing to $3,750 a ton in the next 12 months.

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