ANZ Bank: Further increases in aluminum prices may accelerate demand adjustments

2026-03-29 00:57:55

ANZ stated that the rise in aluminum prices and regional premiums have suppressed demand, but if prices rise further, it is likely to accelerate the adjustment of demand. ANZ claims that its forecast of $3,600 per ton for aluminum prices in the third quarter of 2026 is the peak of this cycle. ANZ estimates that due to supply disruptions in the Middle East, about 8-10 million tons of production will be affected in 2026, and a full return to normal production levels is not expected until 2028.

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