Aluminium Prices

Aluminium prices averaged USD 2,793 per metric ton in October, up 5.2% from September. On 31 October, the commodity traded at USD 2,879 per metric ton, up 7.5% from 30 September.

In October, aluminium prices averaged at their highest level since mid-2022, with multiple factors likely at play. Demand was likely aided by expectations of Fed monetary easing and an extension of the U.S.-China trade truce. Meanwhile, supply was constrained by Chinese capacity curbs—the country normally produces over half of global aluminium—as well as limited smelting capacity elsewhere in the world.