I wish I had actually published the price forecast Jorge Vazquez made of aluminum back at the HARBOR Aluminum conference in late June of this year. If I had published it, I would have put some sort of wrapper/caveat on the prediction by stating, “Jorge sure is bullish on aluminum,” perhaps even indicating that I personally didn’t quite agree with him. And now I’m here to tell you that Jorge’s predictions (he was at $2400/ton by the end of this year) have already nearly come to fruition as aluminum reached $2380/ton yesterday. Besides eating some crow on that point, Jorge also suggested that buying organizations might want to take advantage of [historically] lower prices in September. Anyone who had been paying attention and acted on that information would have looked good today.
Join us for our weekly MetalMiner Aluminum Pulse Series by taking our short poll. Results discussed on Friday this week!