If you’re looking for a 2015 aluminum price forecast, and landing on MetalMiner for the first time, we must warn you: we don’t forecast prices. But we do something so much more valuable.
When it comes to forecasting metal prices, one of MetalMiner’s core beliefs rests on the need to analyze metals markets within the broader context of commodities markets – not in a vacuum.
We’ve excerpted the following section from our recent report, “2015 Metal Buying Outlook: What Can We Expect for Base Metal and Steel Prices Over the Next 12 Months?”
(Remember that the state of aluminum and its prices fluctuate from month-to-month. For the most recent look at how this metal is faring, please consult our Monthly Metal Buying Outlook).
MetalMiner’s Aluminum Price Outlook 2015
Aluminum could be called the “MVP” of industrial metals this year. We recommended that our members start hedging aluminum in June when LME 3-month prices were at $1,950/mt.*
Aluminum experienced big gains this year, and its price has held up well in this last quarter, proving there is strong investor appetite for this base metal.
Strong fundamentals remain in place as increasing use of the lightweight metal in car manufacturing pushes global demand growth while producers continue to cut output.
Price strength is not only seen in the raw material, but also in aluminum stocks. Alcoa Inc. is again at its highest levels in 4 years, and it could soon break through to its highest level since 2011.
Aluminum keeps outperforming the rest of the industrial metals and is now in a correction, curbing the gains experienced this year. Based on current trends, we believe the light metal could significantly increase in 2015. Although its upside potential will be limited while commodities keep falling, we recommend buyers stay hedged as long as prices remain strong.
* What will be the next aluminum price target to bear in mind if/when the market suddenly changes? We update exact price targets every month in MetalMiner’s monthly aluminum forecast – start your free trial.
Or if you buy other metals, download the complete report by filling out the form below: