Morning Bites
🏭Global primary aluminium output growth slowed to 1.2% YoY in August, decelerating from the revised +2.1% YoY in July, according to data from the International Aluminium Institute. China’s production (60% of global Al output in August) also rose only 1.2% YoY. We maintain our view that Al continues to trade below its fundamentally reasonable level for 2025 (~USD 2,700/t)
Overall, the strong consumption dynamics in China (incl. solid demand from the local new energy sector and grid), as well as further US Fed Funds rate cuts, could add material support to Al prices, we believe
#aluminium
https://metals-wire.com/sector/Aluminium
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