Commodity Market Report

Global aluminium short-term outlook August 2019

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*Please note that this report only includes an Excel data file if this is indicated in "What's included" below

The aluminium market service short term outlook (STO) is published monthly and provides a forecast of aluminium supply and demand fundamentals over the next two-years. LME aluminium prices traded in a narrow US$1760-1720/t range over the past month. Meaningful supply disruptions in China failed to ignite any response in prices. Escalation in the trade war and a poor overall set of economic data continued to set the tone for price direction, or lack of. Market focus is very much gripped by the near-term outlook for the global economy and rising geopolitical risks. With the notable exception of nickel, investor sentiment across all LME base metals is poor. Unless, we get a strong post-summer season bounce in physical demand we expect price action to remain trapped in a narrow range over the next month.

Table of contents

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

Tables and charts

This report includes the following images and tables:

  • Infrastructure investment disappoints again
  • Pace of decline in the automotive sector eases
  • Housing sector will remain weak in 2019 on lack of stimulus
  • European automotive sheet capacity
  • US imports of PSS
  • North American shipments of sheet and plate
  • Summary of July production, kt
  • China smelter cuts
  • Changes in aluminium production estimates since July, (kt)
  • World ex-China alumina balances, China imports and Spot prices, 2018-2021, (kt)
  • Changes in global SGA production estimates since July, (kt)
  • China refining cuts, kt
  • 10 more item(s)...

What's included

This report contains:

  • Document

    Global aluminium short-term outlook August 2019

    PDF 1.22 MB