Though lagging in price relative to other LME-traded metals, LME cash aluminum has averaged 1.14 dollars a pound year-to-date, modestly increasing since the start of the year. As for the supply-demand picture, most expect the Western World to post its third consecutive year of deficit in 2006, but many also see the global market trending toward surplus in 2007 (and beyond) due to increased alumina and power availability, translating into greater primary production. In the near term, global consumption prospects look positive and exchange inventories prospects trended lower, thus the downside is viewed as limited despite reports of large unreported inventorier of prime metal and slower macroeconomic BT" rth assumptions for next year.
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