Aluminium Prices

Aluminium prices averaged USD 2,447 per metric ton in May, up 3.4% from April. On 30 May, the commodity traded at USD 2,438 per metric ton, up 2.8% from 30 April.

Prices regained some ground in May following April’s double-digit percentage slump. The U.S. and China agreed to sharply reduce reciprocal tariffs for 90 days as they negotiate a trade deal. Moreover, improving Eurozone manufacturing activity in May likely provided further support. In the U.S. market, aluminium prices had factored in around 85% of the 25% tariff in May, but spiked in early June after Trump announced that tariffs on the metal would rise to 50% from 4 June.