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LME aluminum prices have fallen by about 40% since April last year. The open interest of LME aluminum increased by 10% year-on-year.

Although many people predicted that the aluminum market will be in short supply, there should be a situation of oversupply in the end, according to HARBOR Aluminum.

At the same time, HARBOR Aluminum also expected that the production of primary aluminum will expand significantly in the next two years, mainly due to the expansion of the Middle East, India, China, Southeast Asia, Russia, the United States, etc., as well as the resumption in production in Brazil and Europe.

In addition, the demand for aluminum ore will not grow significantly in the next two years, so HARBOR Aluminum warned that the market might have an oversupply problem that has not been seen 10 years ago.