Citi announced price forecasts for some commodities for the third quarter (3Q24) and the fourth quarter of 2024 (4Q24), as well as the first quarter of 2025 (1Q25).

Among them, LME aluminum price was expected to be US$2,350/ton for 3Q24, US$2,400/ton for 4Q24, and US$2,600/ton for 1Q25. LME copper was estimated at US$9,000/ton for 3Q24 and 4Q24 and US$9,500/ton for 1Q25.

In addition, Citi also forecasted the price of some commodities for this year and next. For LME aluminum, the price was predicted to be US$2,370/ton and US$2,750/ton for 2024 and 2025, respectively. LME copper price forecast is US$9,050/ton for 2024 and US$10,250/ton for 2025.