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Aluminum price decline by 5.1 percent in March 2018 compared to the previous month and grew by 8.8 percent from a year ago. The price of aluminum rose to record levels since June 2015, well over $2,069 per metric ton. Such fall was driven by the significant growth of production in March 2018 when total production of aluminum increase to 5,482,000 metric tons from 4,960,000 metric tons in February 20178

This situation is related to some extent to politics in China and higher prices of coal and other energy products. At this time, aluminum production in China reduced to 2,070,000 metric tons. It is the lowest value since 2013. However, by November 2016 production rose to record 5,003,000 metric tons in the world and 2,800,000 metric tons in China. Reserves were expected to be restored soon.

Leading international agencies made the following predictions of aluminum prices:

  • The World Bank in its commodity forecast report estimated that the price for aluminum will grow in 2018 to $1,968 per metric ton from $1,950 in 2017, based on demand projections and energy price growth.
  • The IMF's report revealed a similar expected icrease from $1,884 per metric ton in 2017 to $1,913 in 2018 which will be followed by the period of growth.

Dive deeper into historical commodity prices from the World Bank and IMF or commodity price forecasts.

You can also explore with Knoema a variety of other critical commodities, including:

gold | silver | copper | aluminum | nickel | zinc | coal | natural gas | crude oil

As you examine commodity prices and forecasts, you may also be interested in economic forecasts for the G20 countries across the following indicators: GDP growth | inflation | unemployment | government debt | current account balance | external debt.

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