Aluminium Price OutlookAluminum prices lost ground over the last month on downbeat Chinese manufacturing data and Norsk Hydro’s announcement that it would restart production at its Brazilian alumina refinery after the government approved the use of new filter technology to process its waste deposits. Aluminum traded at USD 1,961 per metric ton on 2 November, which was down 6.7% from the same day in October. The value was 13.1% lower on a year-to-date basis, and was down 9.0% from the same day a year ago. Prices took a dive at the end of October on the release of data that showed that China’s manufacturing sector expanded at the slowest pace since July 2016, coupled with mounting concerns about excess supply in the Chinese market. Downward price pressures also emerged from expectations of higher supply after Norsk Hydro reached a deal with Brazil’s federal environmental agency in early October for it to resume operations at its Alunorte plant—the biggest alumina refinery in the world—after an environmental dispute with the regulatory body over the alleged contamination of local water supplies. Alumina is the key ingredient in aluminum production. Moreover, the delayed imposition of sanctions on Russian aluminum giant Rusal cut fears of supply shortages and staved off upward price pressures.
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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