OCBC Bank: Aluminum price will rise to $3,500 per ton in the second quarter.
March 18, 2026
On Wednesday, March 18th, Jonathan Ng from the Research Department of OCBC Bank stated in a report that due to supply constraints, the price of aluminum is likely to remain high in the short term. The price of aluminum has been strong this year, and the recent price increase is attributed to concerns over supply disruptions in the Middle East.
Ng stated that the Strait of Hormuz has actually been closed. This strait is not only a crucial passage for the transportation of energy products, but also an important route for the transportation of fertilizers and aluminum. Therefore, a prolonged transportation disruption will simultaneously affect multiple commodities, and it is expected that the price of aluminum will rise to $3,500 per ton in the second quarter.
