The monthly aluminium market service short term outlook provides a forecast of aluminium supply/demand fundamentals over the next two-years. LME prices moved higher throughout the first half of August, initially driven up by the release of Chinese PMI data showing a move above the 50 reading threshold between expansion and contraction. Prices received another push from a weaker US dollar as expectations of an early US interest rise receded. Prices hit a monthly peak of $1,690/t on 18th August before sliding back down towards the $1,620/t level by month end. The most recent statement from the US Fed seemed to suggest that rate rises were back on the agenda, strengthening the dollar. While prices have found support above the $1,600/t level, market fundamentals continue to suggest a global market that is in reasonable surplus. At the same time physical premia continue to slide ever closer to base cost levels in a market where there is no shortage of available of metal.
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Global aluminium short-term outlook August 2016 PDF - 626.81 KB 31 Pages, 12 Tables, 18 Figures
Data tables aluminium STO August 2016.xls XLS - 504.00 KB
As global demand weakens and commodity prices fall, we're seeing a challenging environment in the metals and mining industry. Mining companies are increasingly coming under pressure to reduce operating costs, causing many to shift their strategic planning, delay new investments and look to long-term future growth.
This Aluminium Short Term Outlook report provides a detailed breakdown of global supply and demand balances in this market, as well as price forecasts.
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Commodity market report | Aug 2016
Global aluminium short-term outlook August 2016
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