By Purchasing Staff -- Purchasing, 11/13/2008 7:00:00 AM
J.P. Morgan & Co. has cut its aluminum price forecast for the fourth quarter to $1.12/lb from the previous projection of $1.25. That puts the 2008 price outlook at $1.23, down from its earlier outlook of $1.32. Looking to 2009, the forecast is $1.09. Deutsche Bank analysts are even more bearish, forecasting a 2009 world aluminum ingot price average of 85¢.
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