【SMM Aluminum Flash News】Brazil's Industrial Confidence Falls in September, Weighing on Downstream Aluminum Demand

Brazil's Industrial Entrepreneur Confidence Index (ICEI) fell to 44.9 points in September 2026, down from 46.3 in August, remaining below the 50-point confidence threshold for 21 consecutive months, according to the National Confederation of Industry (CNI). The current conditions index declined from 42.7 to 40.2, while the six-month expectations index slipped from 48.1 to 47.2, indicating weakening business sentiment.

Industrial confidence declined in four of Brazil's five regions, with the North recording the largest drop of 3.7 points to 44.3. The Northeast was the only region to improve, rising to 51.4. Prolonged weakness in industrial confidence could weigh on aluminum demand across construction, transportation, packaging and consumer goods, while the near-term recovery outlook remains uncertain.