Citi turning neutral on aluminium and zinc after bullish targets reached By Investing.com

Citi Research's Market Outlook: Analysts at Citi Research have shifted to a neutral stance on aluminium and zinc after achieving their bullish price targets, following significant price increases in August. They anticipate renewed upside for aluminium by late 2024 and project a medium-term price of $3,100 per tonne for zinc by early 2025.

Market Risks and Supply Constraints: Despite the positive long-term outlook, both metals face near-term vulnerabilities due to economic uncertainties, weak steel demand for zinc, and potential supply disruptions, particularly from seasonal factors affecting hydropower availability in China.