How Aluminium Industry is Recovering Post COVID19
Contributed by: Anonymous February 8, 2021
"The aluminium industry – like all industrial sectors – is still facing a testing future in the short term, but there should be cause for optimism."
The aluminium industry has seen a dip in demand and impact on aluminium production in 2020 due to the pandemic, especially the automobile, aerospace & construction industries has taken probably the maximum hit in the first two quarters of 2020. By late Dec'20 the industry is already seeing the signs of recovery. The LME (London Metal Exchange) 3 months aluminium price stayed consistently above $2000/T in Dec, compared to $1800/T a year back. It is also expected that this resurgence will continue in the first couple of quarters in 2021 as well, because it has been observed that a lot of smelters are already sold out...show more