Aluminum Set to Hit $3,000 a Ton Amid Tariffs, Harbor Says (1)

Aluminum prices are expected to jump more than 20% by the end of next year due to constrained global supply and higher US demand from potential trade deals by the Trump administration, according to research firm Harbor Aluminum.

Prices of the benchmark aluminum contract traded on the London Metal Exchange are likely to rise to $3,000 a metric ton in the next 18 months, managing director Jorge Vazquez said during the firm’s 17th aluminum summit in Chicago. That’s 22% higher than Tuesday’s closing price.

Harbor’s outlook is in contrast to Goldman Sachs Group Inc., which forecasts declining aluminum prices ...