New Delhi, June 21 -- Aluminium prices are set to stay elevated near-term as Middle East outages persist into 2027, but stronger supply growth from Indonesia and China will push the market back into surplus next year, a research report by Goldman Sachs on commodities said.

It also noted that these factors combined would keep the brokerage maintain its bearish stance on the commodity over the medium term.

Goldman Sachs said Middle East supply losses will persist longer than initially assumed. "Since our last update, industry feedback and company announcements point to a slower recovery in Middle East production than we had initially assumed," the report said. Even if the Strait of Hormuz reopens under the announced interim deal, smelters...