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. Aluminium prices ended 2017 on a high, pushing above $2200/t on the last trading day of the year. The average LME cash price for 2017 recorded a 23% increase over the previous year, the strongest annual increase since 2010. A weak U.S dollar, tight rules on China replacement capacity and a constructive global economic background, for now, suggest prices will average above $2100/t in the first half of 2018. We now see a deeper global deficit in 2018 and 2019 than previously, despite a downgrade to Chinese primary metal demand.