Aluminium Price OutlookAluminium prices have rallied in recent weeks on expectations of capacity cuts in China during the winter. The commodity reached a nearly five-year high of USD 2,150 in the second half of September and traded at USD 2,131 per metric ton on 6 October, which was 2.4% higher than on the same day in the previous month. Moreover, the value was up 25.0% on a year-to-date basis and was 27.6% higher than on the same day a year ago. Concerns about environmental contamination are leading the Chinese authorities to downsize the aluminium smelting industry. Efforts have increased with the approach of the 19th National Congress of the Communist Party on 18 October as well as the major heating season in November. In order to meet the air quality standards included in the “battle plan” released by the government in August, from October until April, aluminium smelters in 28 Chinese conurbations are required to cut production by almost a third. Nevertheless, analysts are not entirely convinced about the feasibility of the environmental plan. In fact, it would also lead to a freeze on building important infrastructure during the winter. As this represents a controversial decision, the price developments in the last month reflected investors’ uncertainties and saw some volatility.
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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