CBA flags deeper global aluminum deficit of 647 kt in 2Q26 on supply constraints

• Companhia Brasileira de Aluminio flagged a wider global primary aluminum deficit of 647,000 tons in 2Q26 as Middle East supply disruptions persisted.
• Global inventories fell to 46 days of consumption, matching the lowest level in recent years as the market stayed undersupplied.
• LME aluminum hit a record average of US$ 3,571/t in 2Q26, then corrected to about US$ 3,100/t late-quarter on a US-Iran provisional deal.
• Regional premiums stayed elevated, with tight availability supporting US Midwest and Rotterdam levels despite easing geopolitical risk late-quarter.
• China demand hit a record for a second quarter on exports; ex-China demand dipped slightly as high energy costs weighed on industry.

Disclaimer: This news brief was created by Public Technologies (PUBT) using generative artificial intelligence. While PUBT strives to provide accurate and timely information, this AI-generated content is for informational purposes only and should not be interpreted as financial, investment, or legal advice. Companhia Brasileira de Aluminio published the original content used to generate this news brief on August 03, 2026, and is solely responsible for the information contained therein.