Aluminium Prices

Aluminium prices averaged USD 2,606 per metric ton in July, up 3.2% from June. On 31 July, the commodity traded at USD 2,562 per metric ton, down 1.3% from 30 June.

Prices rose in July on hopes of improving Chinese demand, alongside expectations of lower output in H2, as the country nears its 45 million metric ton annual cap. Meanwhile, after the U.S. hiked import tariffs to 50% in June, Canadian producers have increasingly shifted their exports toward European markets, which could prompt EU export restrictions in the coming months.