Commodity Market Report
Global aluminium short-term outlook February 2021
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*Please note that this report only includes an Excel data file if this is indicated in "What's included" below
Report summary
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. After steaming through the US$2200/t level in late February, a stronger US dollar moved the LME price lower on the final trading day of the month. The price rally has been built on better economic activity and the prospects of a full vaccine-led recovery in the global economy later in the year. The expected positive impact on aluminium demand from the green narrative has also added to market sentiment, though any benefit will be gradual. Although the micro dynamics of the aluminium market have improved, the steep ascent in the price is not justified by the fundamentals. We expect a large cumulative global market Nevertheless, the limited pull back in the price suggests that buyers are firmly in control.
Table of contents
- China
- Europe
- North America
- Alumina Market Developments
Tables and charts
This report includes the following images and tables:
- Total aluminium demand growth by key end-use sectors
- Economic activity slips in early 2021, but still well within expansion territory
- Property sales strength will support starts in H1 2021
- Chinese exports of aluminium semis to the EU
- US shipments of flat-rolled products
- Summary of January production, kt
- Global annualised output rates
- China’s smelter capacity increases in 2021, ktpa
- Changes in aluminium production estimates since the last month, (kt)
- World ex-China alumina balances, China imports and spot prices, 2020-2023, (kt)
- Chinese regional alumina growth in 2020-2021, kt
- World ex-China smelter grade alumina balance
- 14 more item(s)...
What's included
This report contains:
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