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Aluminium Outlook

Adobestock 309590593

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 – Q2 2026

Aluminium enters Q2 underpinned by a very tight physical backdrop, with Middle East supply risks keeping global availability constrained. However, with the geopolitical premium largely priced in and demand only steady, prices are likely to stay range bound and driven by supply headlines rather than underlying consumption.

Metals

As we move into Q2 2026, metals markets are moving away from conflict‑led shocks and toward a more fragmented, metal‑by‑metal setup. With much of the geopolitical premium already absorbed, price action has become more selective and range‑bound, exposing thin liquidity and elevating the importance of local supply conditions. Copper still anchors sentiment across the complex, but price behaviour is increasingly differentiated as markets separate genuinely tight metals from those facing surplus constraints and precious metals capped by rates and dollar dynamics.
Quarterly Metals Report

Quarterly Metals Report Archive

Aluminium Outlook – Q2 2020
Aluminium Outlook – Q1 2020

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