Commodity Market Report
Global aluminium short-term outlook November 2021
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*Please note that this report only includes an Excel data file if this is indicated in "What's included" below
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. . The official cash LME price maintained its broadly downward trend from the last week of October. The price hit a month-low of US$2490/t in the first week of the month on news of an easing in power availability in China and a stronger US dollar. Since then, the official LME quote had looked to build on some limited dip buying, reaching a month high on 25 November at US$2740/t before news of a more vaccine resistant variant emerged. The more than a US$100/t drop in the price over two days was driven by fears over tighter regulations being imposed in Europe and elsewhere and the possibility of short-term lockdowns to follow if the outbreak is not contained. Sentiment had turned bullish, prior to the emergence of the variant, on declining LME stocks and lower than expected output growth.
Table of contents
- China
- Asia ex-China
- Europe
- North America
- Alumina Market Developments
Tables and charts
This report includes the following images and tables:
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Retail sales and industrial production show some resilienceManufacturing activity remains subduedWeak construction sector activity dragging aluminium demand growth lower in Q4
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Investment activity slowing, but manufacturing holding up wellJapanese production of semisChinese exports of aluminium semis to the EUUS shipments of extrusionsUS shipments of flat-rolled productsSummary of October production, ktROW supply increaseGlobal output rates (annualised)New suspensions in China in November
- 16 more item(s)...
What's included
This report contains:
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