Commodity Market Report

Global aluminium short-term outlook April 2023

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Despite several attempts to move the price higher, there is currently little underlying conviction in the market for a sustained rebound in the price. The official cash price drifted to a month low of US$2258/t on 12 April after the US Federal Reserve signalled that further monetary policy tightening was required to contain inflation, despite the warning of recessionary risks in the US economy later this year. Prices found some strength from the release of China’s Q1 GDP growth figure, which came in above expectations at 4.5%. Indeed, the cash price hit a month high of US$2409/t on 20 April. The move higher was also bolstered by news of strike action at Hydro Aluminium’s Karmoy and Ardal smelters, though this proved to be short-lived with a settlement reached just a few days after.

Table of contents

  • China
    • Japan
  • Europe
  • North America
  • Alumina Market Developments

Tables and charts

This report includes 27 images and tables including:

  • Manufacturing activity still positive
  • Construction activity improving, but will it sustain?
  • Bounce back in the automotive sector
  • German semis output growth continues to slide but from a high base
  • US and Canadian shipments of rolled products
  • Summary of March production, kt
  • World ex-China, ktpd
  • Guizhou aluminium operation, ktpa
  • Changes in aluminium production estimates since the last month, (kt)
  • Century Aluminum alumina requirement
  • Century Aluminum alumina contracts
  • Spot alumina price
  • World ex-China alumina balances, China imports and spot prices, 2022-2025, (kt)
  • Chinese monthly bauxite imports since 2014, Mt
  • World ex-China alumina balance
  • China smelter grade alumina balance
  • Changes in global SGA production estimates since the last month, (kt)
  • World ex-China alumina regions
  • Price forecasts and global quarterly aluminium supply/demand balance – (kt)
  • Global aluminium prices and premia
  • Global primary aluminium consumption (kt)
  • Global secondary aluminium consumption (kt)
  • Global quarterly alumina production (kt) - including non-metallurgical production but excluding adjustments
  • Global quarterly primary aluminium production (kt) - excluding adjustments
  • Alumina supply/demand balance global summary (kt)
  • Aluminium supply/demand balance global summary (kt)
  • Production of rolled and extruded products

What's included

This report contains:

  • Document

    Global aluminium short-term outlook April 2023

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