Morgan Stanley ups aluminium price forecast
Seoul
MORGAN Stanley has boosted its aluminium price forecast for next year by 8 per cent as increasing use of the lightweight metal in US car manufacturing leads global demand growth while producers continue to cut output.
The industrial metal will rise to US$2,072 a tonne in 2015, analyst Joel Crane wrote in a report on Wednesday. This year's forecast was also increased by 3 per cent to US$1,893 a tonne, it said. Prices on the London Metal Exchange (LME) have averaged about US$1,870 a tonne so far this year. T…
BT is now on Telegram!
For daily updates on weekdays and specially selected content for the weekend. Subscribe to t.me/BizTimes
Energy & Commodities
Oil jumps, equities fall as Iran blasts fan Middle East fears
Gold set for fifth weekly gain as geopolitical risks buoy demand
Oil holds near 3-week low as US sanctions interrupt easing tensions
Seatrium unit ordered to pay US$108 million in arbitration over equipment supply contracts
BP reshapes its leadership team as some executives leave
BHP to decide on future of nickel business by August, trims met coal estimates