NewsSignals AI analysis·Reuters·Nov 3, 2026

ANZ: Middle East Supply Risks To Keep Aluminium Above $3,000/T in Early 2027

Grade Abullish AI signal$ALUMINIUM

ANZ expects aluminium prices to remain volatile and above $3,000 per tonne through early 2027 as lingering Middle East supply risks offset growing global production. Global aluminium output is forecast to increase more than 4% to 77.8 million tonnes in 2027, while demand is expected to grow 2.5-2.7% to 77.5 million tonnes, potentially shifting the market into surplus. Despite expanding Indonesian production and recovering Middle East output, persistent supply disruptions could keep aluminium prices elevated above $3,000 per tonne.

Bullish strength: 65/100

ANZ expects lingering Middle East supply risks to keep aluminium above $3,000 per tonne through early 2027.
Earlier estimates of 3-3.5 million tonnes in lost Middle East production have been revised to less than 2 million tonnes, but supply risks remain.
Demand is expected to grow by 2.5-2.7% in 2027.

Bearish strength: 35/100

Global aluminium output is expected to increase more than 4% to 77.8 million tonnes in 2027.
ANZ expects the market to shift into surplus in 2027.
Indonesian production is forecast to rise to 1.3 million tonnes in 2027.
Resilient Chinese production could limit supply tightness.

This is automated NewsSignals analysis of third-party reporting, not independent original reporting or investment advice. AI scores are not price predictions.

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