高盛：印尼产量增加将限制铝价格上行空间

Core Viewpoint - Goldman Sachs predicts that LME aluminum prices will decline from the current $2,700 per ton to a low of $2,350 per ton by Q4 2026, although this low point is higher than the previous forecast of $2,100 per ton in March 2026 [1] Group 1: Price Forecast - The aluminum price is expected to continue its downward trend due to an increase in market surplus, expanding from 400,000 tons in 2025 to 1.5 to 2 million tons in 2026-2027 [1] - The anticipated low price of $2,350 per ton by Q4 2026 indicates a significant decline in the market [1] Group 2: Supply Factors - Increased production from Indonesia is expected to limit the upward potential for aluminum prices [1] - It is projected that aluminum prices will not recover to $2,650 per ton before 2030 [1]