The cost of aluminum will fall 17% by the end of the year, analyst firm Harbor Intelligence forecasts. This is due to the fact that demand for the metal has decreased in most consuming industries, while there is a surplus of supply in the market, said its head Jorge Vasquez. His words were quoted by profinance.ru.

The company expects this year aluminum prices will average $2250 per metric ton, and by December they could reach $1800. Next year, according to the experts' forecasts, the average price of the metal will be about $2150. Since January it has been trading at an average of $2358 on the London Stock Exchange.

The company estimates that the surplus supply this year will be 419 thousand metric tons, and next year it is expected to increase by about twice - up to 800 thousand. In this case, until 2026, it is expected a record increase in world production - by 2.4 metric tons, and that does not include aluminum produced in China.