Commodity Market Report

Global aluminium short-term outlook January 2023

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China’s abrupt U-turn on Covid restrictions and a slightly brighter near-term outlook for the European economy dominated metals market sentiment in January. The bearishness seen in the market in the final week of December quickly dissipated and giving way to a turnaround in sentiment as China added detail to its exit from lockdowns. Expectations of a recovery in economic activity and better demand growth drove the official LME cash price from a month low of US$2242/t on 4 January to US$2605/t on 25 January before pulling back slightly at the time of writing. At the same time, data from Europe suggested that the slowdown in economic activity was not as bad as had been initially feared.

Table of contents

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

Tables and charts

This report includes the following images and tables:

  • Retail sales improve on easing Covid restrictions
  • Manufacturing activity slows as China lifts Covid restrictions
  • Property sector activity ends 2022 with a whimper
  • All eyes on infrastructure investment in 2023
  • Turkish imports of primary aluminium from Iran and Russia
  • Chinese PSS exports to EU collapse
  • Turkish semis exports to EU take-off
  • German semis output tumbles in Q4.
  • US and Canada shipments of rolled products
  • Summary of December production, kt
  • Latin America smelter plans
  • European power prices
  • 22 more item(s)...

What's included

This report contains:

  • Document

    Global aluminium short-term outlook January 2023

    PDF 1.23 MB