Demand Yet to Exit Contraction Mode, Market Surplus Continues

 

KEY MESSAGES

  • World primary aluminum demand continues to contract, as most end-user segments are in…
     

  • We see extended demand weakness ahead amid…
     

  • The world aluminum market experienced in Q1 its…
     

  • World primary aluminum production will regain considerable momentum from…
     

  • The world market remains on track to experience growing surpluses in 2023-2024, of… mton in 2023 and… mton in 2024. 
     

  • HARBOR continues to see LME prices with a bearish bias, trading in a short-term range of $… per mton, and targeting levels of $… per mton later in 2023. We expect LME cash prices to average $.. per mton in 2023 and $… per mton in 2024.

 

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