Citi turning neutral on aluminium and zinc after bullish targets reached By Investing.com
Written by Emily J. Thompson, Senior Investment Analyst
Updated: Aug 28 2024
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Source: Investing.com
Citi Research's Market Outlook: Analysts at Citi Research have shifted to a neutral stance on aluminium and zinc after achieving their bullish price targets, following significant price increases in August. They anticipate renewed upside for aluminium by late 2024 and project a medium-term price of $3,100 per tonne for zinc by early 2025.
Market Risks and Supply Constraints: Despite the positive long-term outlook, both metals face near-term vulnerabilities due to economic uncertainties, weak steel demand for zinc, and potential supply disruptions, particularly from seasonal factors affecting hydropower availability in China.
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About the author
Emily J. Thompson
Emily J. Thompson, a Chartered Financial Analyst (CFA) with 12 years in investment research, graduated with honors from the Wharton School. Specializing in industrial and technology stocks, she provides in-depth analysis for Intellectia’s earnings and market brief reports.
