Aluminum Supply Growth Expected Despite Production Risks in Mozambique and High Prices Globally

Published: Feb 28, 2026 17:11

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[SMM Aluminum Express] Entering March 2026, the operating capacity of newly commissioned aluminum projects in Indonesia and Angola is expected to continue climbing. However, there is a risk of production cuts or halts at the Mozambique aluminum plant. Affected by this, the daily average aluminum production may turn to negative growth. Despite this, high aluminum prices continue to stimulate faster global aluminum supply. The resumption of production at the Iceland aluminum plant is expected earlier than originally planned; the operating rates at other aluminum plants have also slightly increased. Overall, aluminum supply is expected to maintain a growth trend, but global aluminum inventory trends still require ongoing monitoring.

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