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. Resilient demand and supply disruptions will result in a small deficit in the global balance in 2021. This is price supportive with LME quotes now comfortably trading above the US$2550/t level. At the time of writing, news of curbs on power consumption at Chinese smelters in Yunnan, Guangxi and Guizhou has pushed the LME price above $2600/t while the ShFE settlement price hit an 11 year high at just below the RMB10,000/t level. However, higher metal supply and softer demand growth should pull prices lower over the next two years.