Danske Markets | May 22, 2014 06:59AM ET
The aluminium price seems to have landed relatively safely after a long period of steep decline since the peak in early 2011. During the first half of 2014, the aluminium market has settled around a price range of USD1,700-1,900/MT. With the aluminium price back on the ground, we take a look at the outlook for the aluminium market for the second half of the year. Overall, we see four critical themes driving the market in the near term:
The combination of further strengthening of the global recovery driven by, among other things, a rise in investment demand and supply uncertainties will keep upward pressure on the back end of the forward curve, while a decline in stocks may relieve some downwards pressure on the front end of the curve and narrow the present contango.
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