Aluminium Price OutlookAluminium prices continued to slide in recent weeks on the heels of the announced withdrawal of U.S. sanctions on Russian aluminium giant Rusal. Aluminium traded at USD 1,813 per metric ton on 11 January, which was down 5.9% from the same day in December. In addition, the value was 2.7% lower on a year-to-date basis and was down 16.2% from the same day a year ago. Growing fears of excess supply in the global aluminium market continued to weigh on prices. On 20 December, it was announced that the sanctions on the trading of Rusal metal on the LME could be lifted as soon as mid-January. Given that the Russian giant controls about 7.0% of global tin production and that large stocks of aluminium currently stored in warehouses would come on to the LME once sanctions are lifted, this would produce a supply-side shock. At the same time, aluminium inventories continued to build in recent weeks, with inventories up nearly 11% in early January from October, despite the absence of Rusal’s stock. Moreover, waning Chinese manufacturing growth and fears over a global slowdown have eaten into demand for aluminium, helping keep prices subdued.
Aluminium Price History Data (USD per metric ton, aop)
Price forecasts and historical data for Energy, Metals and Agricultural Commodities.
Aluminium Historical Price Chart
Price forecasts and historical data for Energy, Metals and Agricultural Commodities
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