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Aluminium Outlook

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Expert aluminium market insights

Our quarterly aluminium outlook is published in our Quarterly Metals Report, which covers base, precious and ferrous metals. The impact of supply and demand fundamentals, including LME and SHFE stocks and macroeconomic implications for the aluminium futures and spot prices are analysed. Our research team produce an aluminium price range forecast as part of the report.

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Aluminium Outlook – Q1 2024

Aluminium prices have fluctuated due to macroeconomic factors, including the Chinese economic outlook and expectations for monetary policy. The Q1 2024 narrative is driven by postponed rate cut probabilities and Chinese pessimism, making it difficult for aluminium prices to break out of their current range. Although macro factors remain key to day-to-day activity, the Fed will continue to drive aluminium’s price momentum. Despite potential supply shocks, there is ample liquidity to absorb them quickly. We anticipate wider trading ranges with slight upside potential amid increasing volatility.

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