Aluminium Price OutlookAluminium prices soared over the past month, hitting a year-and-a-half high in early November, thanks to strong demand conditions in China and resurging supply concerns. Aluminum traded at USD 1,886 per metric ton on 6 November, which was up 8.4% from the same day in the previous month. Meanwhile, the price was 5.9% higher on a year-to-date basis and was up 3.8% from the same day a year ago. Healthy economic activity in China and expectations of stronger demand conditions boosted aluminium prices in recent weeks. The Chinese industrial sector gained steam at the end of Q3 and seemed to expand solidly in October, boosting prices of the metal widely used in transport, construction and packaging. Expectations of accelerating infrastructure and construction investment in China amid the government’s massive fiscal spending program also supported prices. Moreover, shrinking global inventories and speculations that Chinese smelting capacity is nearing its maximum added further upside pressure. That said, a reintroduction of lockdown measures in Europe and election-related uncertainty in the U.S. capped the upturn in 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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