Global aluminium short-term outlook February 2023 Report

Commodity Market Report 28 February 2023

This report is currently unavailable

Share link

First name
Last name
Job Title
Company
Email
Telephone

Country

Message

Consent

Please keep me informed about Wood Mackenzie products, services and events.

Submit Category

For details on how your data is used and stored, see our Privacy Notice.

- FAQs about online orders
- Find out more about subscriptions

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

Report summary

The rebound in the official LME cash price fizzled out as rising exchange stocks and a stronger US dollar dampened investor enthusiasm for the light metal. This was in contrast to January when the macroeconomic narrative was positive. A weaker US dollar index, a dovish US Fed, a less severe than expected slowdown in the European economy and China’s reopening drove the price from an early month low of US$2225/t to over US$2600/t by month end. This changed in February as some of the earlier tailwinds became headwinds, with growing pessimism over an immediate recovery in Chinese metal demand and a rebound in the US dollar index. Prices shed US$300/t during the month to below US$2300/t at the time of writing.

China
Asia ex-China
- Japan
Europe
North America
Alumina Market Developments

Tables and charts

This report includes the following images and tables:

Sharp rise in the NBS PMI
Chinese semis exports to EU hit record high in 2022
Sharp drop in German semis output

US and Canada shipments extruded products
Russian primary aluminium exports to the US
Summary of January production, kt
US aluminium capacity
Global monthly output (annualised)
Nearly 40% of Yunnan’s capacity to suspend after two consecutive rounds of production cuts
China smelter capacity change expectation in 2023, ktpa
Changes in aluminium production estimates since the last month, (kt)
Spot alumina price
15 more item(s)...