Aluminium Price OutlookAluminum prices rose slightly at the end of in November amid favorable news indicating tighter supply. That said, in a historical context, prices remained subdued. Aluminum traded at USD 1,957 per metric ton on 30 November, which was 0.5% higher than on the same day in October. However, the value was down 13.2% on a year-to-date basis and was 3.8% lower than on the same day a year ago. Political and financial uncertainties have weighed on the aluminum market. Weaker industrial activity in China and fears over a global slowdown have dampened the demand for aluminum and spurred a downward trend in prices. In response to this, Aluminum Corp of China Ltd.—China’s largest state-run aluminum producer—announced on 30 November that it will be cutting production in the northern part of the country. Moreover, a decree of the Russian government indicated that it could purchase 50,000 tonnes of aluminum in a bid to drive up prices to support sanctioned Russian aluminum giant Rusal. The recent developments, along with greater optimism on the possibility of a truce between the U.S. and China to freeze the imposition of additional tariffs have interrupted the decline in prices and helped lift them recently. That said, the market is expected to remain in excess supply owing to an ample scrap supply and vast off-market stocks.
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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