Goldman Sachs cut aluminium price forecasts, citing faster-than-expected supply recovery in the Middle East. The bank now sees a 2026 global aluminium deficit of about 100kt, down from a prior 720kt forecast, and has raised its 2027 surplus estimate from 590kt to roughly 1.5mt. It trimmed its LME aluminium price view for Q4 2026 to $2,950/t from $3,200/t and cut its 2027 average to $2,700/t from $2,950/t. Goldman expects inventories to rebuild by end‑2027, which should normalize smelter margins

Goldman Sachs cut aluminium price forecasts, citing faster-than-expected supply recovery in the Middle East. The bank now sees a 2026 global aluminium deficit of about 100kt, down from a prior 720kt forecast, and has raised its 2027 surplus estimate from 590kt to roughly 1.5mt. It trimmed its LME aluminium price view for Q4 2026 to $2,950/t from $3,200/t and cut its 2027 average to $2,700/t from $2,950/t. Goldman expects inventories to rebuild by end‑2027, which should normalize smelter margins from recent highs.