{"id":7093,"date":"2023-11-29T11:34:07","date_gmt":"2023-11-29T06:04:07","guid":{"rendered":"https:\/\/aluminiummagazine.com\/mag\/?p=7093"},"modified":"2024-01-30T00:19:28","modified_gmt":"2024-01-30T05:19:28","slug":"aluminium-prices-brace-for-impact-global-economic-slowdown-spells-uncertainty-in-2023","status":"publish","type":"post","link":"https:\/\/aluminiummagazine.com\/mag\/news\/aluminium-prices-brace-for-impact-global-economic-slowdown-spells-uncertainty-in-2023.html","title":{"rendered":"Aluminium Prices Brace for Impact: Global Economic Slowdown Spells Uncertainty in 2023"},"content":{"rendered":"\n<p class=\"wp-block-paragraph\">Analysts predict that due to a slow recovery in the world economy, the prices of aluminum will hover around $2,300 per tonne. The demand for <a href=\"https:\/\/www.tumblr.com\/aluminiummagazine\" data-type=\"link\" data-id=\"https:\/\/www.tumblr.com\/aluminiummagazine\" rel=\"nofollow noopener\" target=\"_blank\">aluminum<\/a> is expected to stay low because of the sluggish global economic growth, causing the metal&#8217;s prices to continue a 6% decline since January.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Australia&#8217;s Office of the Chief Economist states that the <a href=\"https:\/\/aluminiummagazine.com\/mag\/aluminium\/current-aluminium-price.html\" data-type=\"post\" data-id=\"1571\">London Metal Exchange<\/a> (LME) aluminum spot price is anticipated to drop by 13% in 2023, averaging $2,365 per tonne. The slowing growth worldwide is a key factor in this price decrease.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Research agency BMI attributes the pressure on prices to the slow recovery of China&#8217;s commodity-intensive sectors and a weak global demand outlook. ING Think adds that the fundamental situation for aluminium remains unchanged, especially in Europe where major restarts aren&#8217;t expected before 2025, and demand remains weak.<\/p><div class=\"pai-ad\" style=\"min-height:250px;visibility:hidden;\"><span style=\"display: block; text-align: center; font-size: 10px; margin: 0 0 10px 0; color: #999999;\">Ads<\/span>\r\n<!-- Display-300x250-1 -->\r\n<ins class=\"adsbygoogle\"\r\n     style=\"display:inline-block;width:300px;height:250px\"\r\n     data-ad-client=\"ca-pub-3838168351244230\"\r\n     data-ad-slot=\"9933646018\"><\/ins>\r\n<script>\r\n     (adsbygoogle = window.adsbygoogle || []).push({});\r\n<\/script><\/div>\n\n\n\n<p class=\"wp-block-paragraph\">BMI revises its <a href=\"https:\/\/aluminiummagazine.com\/mag\/magazine\/aluminium-news-headlines.html\" data-type=\"post\" data-id=\"5511\">aluminum<\/a> price forecast for 2023 to an average of $2,300 per tonne, down from $2,500. Currently, aluminium contracts on the LME are at $2,178 per tonne.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">The metal, widely used in aerospace, packaging, automobiles, and construction, faces weak demand globally, partly due to disappointing Chinese export data. BMI links the decline in factory activity of aluminum-intensive products to weak export demand outside China and predicts downward pressure on prices.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">China, the largest consumer of aluminium, contributes significantly to the metal&#8217;s price weakness. The construction sector, making up 30% of <a href=\"https:\/\/aluminiummagazine.com\/mag\/aluminium\/current-aluminium-price.html\" data-type=\"post\" data-id=\"1571\">aluminium<\/a> demand in China, is also struggling, especially after the bankruptcy filing of China&#8217;s property giant Evergrande. Despite the current challenges, analysts expect aluminium prices to rise in the long term due to the shift towards a green economy.<\/p><div class=\"pai-ad\" style=\"min-height:250px;visibility:hidden;\"><span style=\"display: block; text-align: center; font-size: 10px; margin: 0 0 10px 0; color: #999999;\">Ads<\/span>\r\n<!-- Display-300x250-1 -->\r\n<ins class=\"adsbygoogle\"\r\n     style=\"display:inline-block;width:300px;height:250px\"\r\n     data-ad-client=\"ca-pub-3838168351244230\"\r\n     data-ad-slot=\"9933646018\"><\/ins>\r\n<script>\r\n     (adsbygoogle = window.adsbygoogle || []).push({});\r\n<\/script><\/div><script>document.addEventListener(\"DOMContentLoaded\",function(){\n        if(window.innerWidth <= 768){\n            if (\"immediate\" === \"delay\") {\n                setTimeout(function(){document.querySelectorAll(\".pai-ad\").forEach(el=>el.style.visibility=\"visible\")},0);\n            } else if (\"immediate\" === \"scroll\") {\n                window.addEventListener(\"scroll\",function(){\n                    let s=window.scrollY\/(document.body.scrollHeight-window.innerHeight);\n                    if(s>0.1){\n                        document.querySelectorAll(\".pai-ad\").forEach(el=>el.style.visibility=\"visible\");\n                    }\n                });\n            } else {\n                document.querySelectorAll(\".pai-ad\").forEach(el=>el.style.visibility=\"visible\");\n            }\n        } else {\n            document.querySelectorAll(\".pai-ad\").forEach(el=>el.remove());\n        }\n    });<\/script>","protected":false},"excerpt":{"rendered":"<p>Analysts predict that due to a slow recovery in the world economy, the prices of aluminum will hover around $2,300 per tonne. The demand for aluminum is expected to stay low because of the sluggish global economic growth, causing the metal&#8217;s prices to continue a 6% decline since January. Australia&#8217;s Office of the Chief Economist &#8230; <a title=\"Aluminium Prices Brace for Impact: Global Economic Slowdown Spells Uncertainty in 2023\" class=\"read-more\" href=\"https:\/\/aluminiummagazine.com\/mag\/news\/aluminium-prices-brace-for-impact-global-economic-slowdown-spells-uncertainty-in-2023.html\" aria-label=\"Read more about Aluminium Prices Brace for Impact: Global Economic Slowdown Spells Uncertainty in 2023\">Read more<\/a><\/p>\n","protected":false},"author":12,"featured_media":3717,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1831],"tags":[],"class_list":["post-7093","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news"],"_links":{"self":[{"href":"https:\/\/aluminiummagazine.com\/mag\/wp-json\/wp\/v2\/posts\/7093","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/aluminiummagazine.com\/mag\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/aluminiummagazine.com\/mag\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/aluminiummagazine.com\/mag\/wp-json\/wp\/v2\/users\/12"}],"replies":[{"embeddable":true,"href":"https:\/\/aluminiummagazine.com\/mag\/wp-json\/wp\/v2\/comments?post=7093"}],"version-history":[{"count":0,"href":"https:\/\/aluminiummagazine.com\/mag\/wp-json\/wp\/v2\/posts\/7093\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/aluminiummagazine.com\/mag\/wp-json\/wp\/v2\/media\/3717"}],"wp:attachment":[{"href":"https:\/\/aluminiummagazine.com\/mag\/wp-json\/wp\/v2\/media?parent=7093"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/aluminiummagazine.com\/mag\/wp-json\/wp\/v2\/categories?post=7093"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/aluminiummagazine.com\/mag\/wp-json\/wp\/v2\/tags?post=7093"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}