Column: China’s export tax bombshell rocks aluminum market
China's announcement on Friday may have major long-term ramifications for the global aluminum supply chain, writes Andy Home.
Analysts at Harbor Intelligence’s Annual ‘Aluminum Outlook Conference’ are predicting stable to higher aluminum prices on the year. Despite high inventories of aluminum in warehouses, the analysts agree that demand growth and a looming supply issues in China will move the price higher. A poll of conference participants showed that 75 percent of respondents expected prices to average upwards of $2,600 per tonne in 2012, a majority also concluded that the regional premiums would increase.
