Commodity Market Report
Global aluminium short-term outlook January 2024
Report summary
2024 has kicked off with multiple events and issues for the aluminium market which have pulled prices in opposite directions. The possibility of further extensive EU sanctions against Russian metal imports has sent European premia upwards after spending most of 2023 on a downward trajectory. The escalation of the Red Sea crisis has further added to supply issues. We expect prices to remain under pressure amid weak demand and a dial back on US Fed interest rates cuts this year.
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