Commodity Market Report
Global aluminium short-term outlook May 2020
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. Our latest assessment of aluminium market fundamentals suggests a significant overhang of metal over the next two years. Falling consumption and the lack of a supply response, so far, will weigh heavy on prices and oversupply. Despite the recent move in the LME price above US$1500/t, the near term outlook for the aluminium market is poor. Demand outside China remains very weak while output, especially in China, continues to climb.
Table of contents
- China
-
Asia ex-China
- Elsewhere in Asia
- Europe
- North America
- Alumina Market Developments
Tables and charts
This report includes 21 images and tables including:
- Post lockdown boost to manufacturing activity stalling
- Automotive sales and output helped by firm demand for commercial vehicles
- Modest improvement in the property market but from a low base
- Investment tracking higher
- North American production of rolled products
- North American production of extruded products
- Summary of April production, kt
- New supply offset cuts at high cost smelters
- China cuts and restarts
- Changes in aluminium production estimates since last month, (kt)
- China alumina imports
- Spain alumina exports
- World ex-China alumina market balance
- China new refining capacity in 2020, kt
- Changes in global SGA production estimates since last month, (kt)
- Price forecasts and global quarterly aluminium supply/demand balance – (kt)
- Global primary 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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