Tight supply to keep supporting aluminium prices, premiums
The recent downward correction in aluminium prices and premiums was expected after a strong uptrend in 2021, but tighter supply from China is set to continue supporting high prices, Brazilian aluminium producer Companhia Brasileira do Alumínio (CBA) said on Tuesday November 9.
Chinese aluminium output cuts, meant to reduce carbon emissions, deepened a global supply deficit in the third quarter. Estimates in the market are for demand to keep outgrowing production, CBA’s chief financial officer Luciano Alves said in a press conference to discuss third-quarter earnings.
