Aluminum Prices Plummet Despite Ongoing Supply Disruptions ...Middle East

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Aluminum Prices Plummet Despite Ongoing Supply Disruptions
source : OILPRICE ( Middle East ) () 30
A curious tug of war continues in the Aluminum industry. It remains focused on likely demand destruction due to recessionary forces, generally blamed on central banks’ rapid raising of interest rates. Of course, we’ve all watched base metals come off sharply since the end of Q1, and Aluminum has been no exception. Indeed, after peaking at more than $4,000 per ton in late March, Aluminum prices now hover in a range of $2350 to $2450. On the other hand, supply shows increasingly showing signs of distress. This remains most noticeable…

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