Rowley Banking analyst Macquarie Bank said on Monday that the London Metal Exchange (LME) aluminum futures price will reach about 1,760 US dollars per ton (80 cents per pound), due to expected strong fundamentals. He told a seminar held at the LME that "Inventories will continue to decline this year, and China's exports should decrease, and the risk of more worker strikes may increase the supply gap." He also pointed out that there are several potential negative factors that may make The price is under pressure. "Global economic growth is slowing, and China's reduction of inventories may lead to an increase in exports." He expects the supply gap in the aluminum market to be between 350,000 and 400,000 tons this and next year.
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