Global aluminium short-term outlook May 2024 Report

Commodity Market Report 31 May 2024

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Report summary

For most of the month aluminium prices movements had been mirroring the rest of the base metals complex, largely piggybacking on the strong run-up in copper. However, a divergence has emerged at the end of the month. Profit taking in aluminium was not as pronounced as it was in other LME base metals. This reflects continued support for prices against the background of disruptions to alumina supply.