Commodity Market Report
Global aluminium long-term outlook Q4 2019
*Please note that this report only includes an Excel data file if this is indicated in "What's included" below
Report summary
The aluminium metal market service long term outlook (LTO) is published quarterly and provides a detailed forecast of aluminium supply and demand fundamentals out to 2040. Wood Mackenzie’s latest iteration of the global aluminium market balance shows a market that will move into surplus from 2020 onwards. Between 2020 and 2024, we expect a cumulative surplus of more than 2 Mt. This is despite negative production adjustments between 2020 and 2022. Unsurprisingly, our average annual LME price forecast in nominal terms will stay below US$1800/t over the next four years. The message is clear, from the starting point of 2019, producers will need to make production cuts over and above our implied cuts to bring the market back towards balance.
Table of contents
- What’s changed?
- Demand update
- Supply update
Tables and charts
No table or charts specified
What's included
This report contains:
Other reports you may be interested in
Commodity Market Report
Global aluminium short-term outlook August 2024
August price rally stalls on US dollar strength and concerns over Chinese demand.
$5,000
Commodity Market Report
Global copper long-term outlook Q4 2019
Over the next five years, supply growth will exceed that of consumption, leading to several years of surpluses
$10,000
Commodity Market Report
Global zinc long-term outlook Q4 2019
Concentrate stocks have reached high levels, however, smelter capacity constraints will slow their transformation into metal.
$10,000
