Goldman Sachs cuts Aluminum 6-month, 1-year price targets

Oct 21, 2013 03:31 GMT   Source:Scrap Register

UNITED KINGDOM October 20 2013 4:32 PM
 
LONDON (Scrap Register): Goldman Sachs cut its price targets for aluminum to $1,800, $1,750 and $1,750 per metric ton on a three-, six- and 12-month horizon. The bank previously looked for $1,850, $1,900 and $2,000, respectively.

“Driving these aluminum forecast revisions is the lack of a sufficient supply response to low and declining prices, which we believe is the result of a sharply declining cost structure driven by weaker coal and power prices,” Goldman added.

“At this point, we no longer believe supply curtailments will create a shift in the balance significant enough to generate a turn in the cycle within the next 12 months,” Goldman concluded.
 

Share:
None of this material may be used for any commercial or public use in any forms or means, without the prior written consent of SMM. For news cooperation issue, please contact us by email:smmweekly@smm.cn
Copyright © SMM. All Rights Reserved

SMM Publication

China Iron Ore Weekly Monitor 20140415 China Iron Ore Weekly Monitor 20140415
Steelease believes domestic concentrates market will lack ability to...

SMM Events

2014 (9th) Lead & Zinc Summit 2014 (9th) Lead & Zinc Summit
9 Years of experience in conference arrangement, 17 Years of industry...