Are Aluminum Prices About To Break Out? ...Middle East

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Are Aluminum Prices About To Break Out?
source : OILPRICE ( Middle East ) () 25
In Aluminum trading, inventory levels directly linked with price direction continue through 2022. Demand outstripping supply caused falling inventory, and many assume prices are due to rise, except they’re not. According to a Reuters report, LME inventories fell steadily this year with total inventory down by 479,000 metric tons in the first four months of 2022. Aluminum prices have been on a bear run since the beginning of March, coming down from a high of $3839/ton to $2577/ton. These numbers sit below the start-of-the-year level around…

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