Global aluminium short-term outlook August 2023
July marked the first month since January this year that the LME cash price closed the month higher than it started. However, August will reverse this trend. For the past three months aluminium prices have been trading in a narrow US$2100-2300/t range and around the US$2100/t level since mid July with a short lived dip below this. Price action has been muted this month with disappointing Chinese stimulus measures having little impact on market sentiment.