Citi Tracy Liao: Aluminum prices will remain high in the short term

- Apr 26, 2018 -

Citi Tracy Liao: Aluminum prices will remain high in the short term


Citigroup analyst Tracy Liao said on an interview with Bloomberg TV on Friday that the U.S. sanctions imposed on RUSAL was "a short-term massive supply disruption."


The current price is high enough to incentivize producers (including U.S. producers) to restart some idle capacity, and if the price reaches 3,000 U.S. dollars per tonne, it may stimulate further furnace restarts.


Related reports: Rusal was sanctioned to trigger metal market shocks Both aluminum and nickel prices soared.


The Chinese smelter may take about 3-6 months to restart aluminum production; in the rest of the world, this process usually takes longer.


The rise in nickel prices and palladium prices is doubtful because the supply in these two markets has not been affected.


Citi expects this year's crude oil price range to be 60-70 US dollars / barrel; 2019 may fall to 50-60 US dollars.


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