Industry News

Where will aluminum alloy prices go in 2022?

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Update time : 2021-11-16 17:49:52
Will aluminum prices be higher?


 
As the most important raw material for
aluminum ladders - aluminum alloy, its price fluctuations directly affect the price of the final industrial product - aluminum ladder. Aluminum price have fluctuated in 2021, compared with 2020, its price has exceeded everyone's expectations. The year 2022 is approaching, how should we meet the market environment which can't be predicted if it's getting better or worse?
 
On September 8-10, local time, at the Harbor Global Aluminum Summit held in Chicago, many participants said that for most of 2022, supply shortages will continue to plague the entire aluminum industry, and some participants even anticipate it will take up to five years to solve the supply problem.  
 
At present, the global supply chain with container shipping as the mainstay is trying to keep up with the booming demand for goods and overcome the impact of labor shortage caused by the COVID-19 epidemic. The shortage of workers and truck drivers in aluminum factories has exacerbated the problems in the aluminum industry.
 
In addition, according to Jorge Vazquez, the managing director of Harbor Intelligence, they are still watching to see if Russia, the world’s second largest aluminum producer, will keep expensive export taxes until 2022. Harbor Intelligence predicts that the average aluminum price in 2022 will reach US$2,570/ton, which will be about 9% higher than the average aluminum price during the year.
 
Commonwealth Rolled Products CEO Mike Keown said at the Global Aluminum Summit: “For us, the current difficult situation has just begun. This will keep us vigilant.”


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