The aluminium metal market service long term outlook (LTO) is published quarterly and provides a detailed forecast of aluminium supply and demand fundamentals out to 2050. The long-term outlook for the aluminium industry will be shaped by a variety of factors. Among the most critical will be the ability of the sector to decarbonise it supply chain. This will require a step change in the collection, sorting and processing of scrap to final product and will require significant investment and technological innovation. For the smelting industry, we expect a future where carbon emissions become a liability. Future new and existing capacity will require significantly higher prices to generate returns.