Commodity Market Report
Global aluminium short-term outlook March 2022
Report summary
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. A month is a long time in the aluminium market. Having just about started to recover from the pandemic, the Russian invasion of Ukraine has raised new challenges to commodity markets. The price remains prone to volatility and largely headline driven for the time being. Events in March have only served to exacerbate an already tight aluminium market. Even before the invasion, power price related output cuts in Europe and firm offtake had taken the aluminium cash price and benchmark P1020 premia to multi-year highs. The aluminium market is set for a period of heightened uncertainty and volatility.
Table of contents
- China
- Europe
- North America
- Alumina Market Developments
Tables and charts
This report includes 26 images and tables including:
- SPB issuance accelerated in January and February 2022
- Investment holding up well
- Property market activity sliding
- Chinese exports of semis to Europe
- US shipments of extrusions
- US shipments of flat rolled products
- Summary of February production, kt
- Hindalco alumina and aluminium expansion plans
- China aluminium actual and expected restarts in 2022, ktpa
- China aluminium actual and expected new growth in 2022, ktpa
- Changes in aluminium production estimates since the last month, (kt)
- Spot alumina price
- Russia alumina production and imports
- World ex-China alumina balances, China imports and spot prices, 2021-2024, (kt)
- World ex-China alumina balance
- China smelter grade alumina balance
- Changes in global SGA production estimates since the last month, (kt)
- World ex-China alumina regions
- Price forecasts and global quarterly aluminium supply/demand balance – (kt)
- Global aluminium prices and premia
- Global primary aluminium consumption (kt)
- Global secondary aluminium consumption (kt)
- Global quarterly alumina production (kt) - including non-metallurgical production but excluding adjustments
- Global quarterly primary aluminium production (kt) - excluding adjustments
- Alumina supply/demand balance global summary (kt)
- Aluminium supply/demand balance global summary (kt)
What's included
This report contains:
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