2021-09-03 • Updated
Aluminum is used in the metallurgical industry in the production of many metals. Aluminum is also widely used in the construction of aircraft, spaceships, and automobiles. High-purity aluminum is widely used in such new fields of technology as nuclear power, semiconductor electronics, and radar. In the conjuncture of global economic recovery, these sectors are going to increase their consumption, as a result, aluminum demand will grow as well as prices.
In January-March 2021, the global demand for primary aluminum amounted to 16.4 million tons with an 11% year-to-year increase. Aggregate demand excluding China increased by 5.2% to 7.2 million tons, while demand in China increased by 15.4% to 9.2 million tons. Among the sectors of final consumption of aluminum, the fastest growth is shown by the transport industry.
Global aluminum production in the first quarter increased by 5.9% on an annualized basis to 16.75 million tons, thanks to an increase in production in China by 9.6% to 9.8 million tons. At the same time, production in the rest of the world grew by only 1% to 7 million tons.
Analysts predict further Aluminum price growth as the future supply will underperform the future demand.
You can use Alcoa Corporation stock to trade this metal as it is one of the biggest Aluminum producers in the world.
D1 chart
Alcoa looks very bullish. It broke through local high at $42.8 and went up. At this moment the main target locates at $60, but there are $50, $52, $55 resistance levels on the way. The global support locates at $42.8, while the local one is $46. The RSI indicator also shows that there is enough space for future growth.
Why? Despite the fact that analysts and experts have been predicting the US stock market crash during pash year S&P500 doubled since March 2020 crush and NASDAQ is also gaining permanently…
About PayPal PayPal is an electronic commerce company that facilitates payments between parties through online transfers…
Walmart has published its earnings results for the second quarter of 2021, which exceeded analysts’ expectations. As a result, the stock surged!
The past several weeks have been a real triumph for the bulls in the oil market. The Brent spot price grew by 8.5% during the last month.
Gold prices are rising for three consecutive days ahead of the Federal Reserve (Fed) interest rate decision, which is expected to remain unchanged due to declining inflation and a positive economic outlook. Investors are keen on the Fed's interest rate guidance, fearing a hawkish stance that could trigger market risk aversion.
Amid concerns of a Chinese economic slowdown, reports of declining investment often overlook China's efficient investment strategy in emerging sectors for long-term growth. China has taken measures to stabilize foreign and private sector investments, like reducing the reserve requirement ratio to boost investor confidence.
FBS maintains a record of your data to run this website. By pressing the “Accept” button, you agree to our Privacy policy.
Your request is accepted.
A manager will call you shortly.
Next callback request for this phone number
will be available in
If you have an urgent issue please contact us via
Live chat
Internal error. Please try again later
Don’t waste your time – keep track of how NFP affects the US dollar and profit!
|
