Aluminum Surplus, Demand Contraction, and Supply Expansions Ahead

 

KEY MESSAGES

  • Physical demand for aluminum (extrusions, flat-rolled products, as well as primary and scrap units) is contracting across the…
     

  • We continue to see a limited recovery in…
     

  • Production of primary aluminum remains set to…
     

  • World’s primary aluminum market in a surplus position since late 2022 amid…
     

  • Weakening fundamentals signal lower LME prices in the coming quarters. HARBOR sees LME prices retracing toward $…

 

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