Aluminium Price OutlookAluminium prices did not move substantially in recent weeks. While healthy data on manufacturing activity in China and solid overseas demand for Chinese aluminium drove prices up, rising inventories at the Shanghai Futures Exchange and the possibility of import restrictions by the U.S. put downward pressure on prices. Aluminium traded at USD 2,121 per metric ton on 9 February, which was down 0.6% from the same day in the previous month. Moreover, the value was 6.0% lower on a year-to-date basis but was up 15.6% from the same day a year ago. Prices rose in January as Chinese exports of aluminium went up, suggesting global appetite for the metal remains healthy. Moreover, strong GDP growth data for China in 2017 and a solid PMI reading for January indicates an economic slowdown will likely be gradual. However, December data on aluminium production in the Asian giant showed a jump in output over the previous month, following a significant decline in November, which put downward pressure on prices. Although the government’s environmental measures led to sizeable cuts in smelting capacity, production in regions not targeted by the authorities rose. Moreover, the risk of import restrictions by the United States weighed on prices.
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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