Aluminium Price Outlook

Aluminium prices slumped further over the past month as the severe fallout from Covid-19 continued to hinder global demand. That said, prices found some support in early May on stronger Chinese demand and as most countries began easing lockdown measures. Aluminium traded at USD 1,429 per metric ton on 15 May, which was down 2.7% from the same day in the previous month. The price was 19.8% lower on a year-to-date basis and was down 21.7% from the same day a year ago. A grim demand backdrop continued to weigh on aluminium prices in recent weeks, as drastic measures to contain Covid-19 were sustained in most of the world’s countries, with many factories and non-essential business remaining shut or operating well below capacity. On a more positive note, gradually recovering demand in China, after the country seemingly successfully contained the pandemic, and news of major global economies—including the EU, UK and U.S.—gradually reopening their economies for business supported prices somewhat through mid-May. Recovering Chinese aluminium output prevented a rebound in prices, however.

Aluminium Price History Data (USD per metric ton, aop)

2015  2016  2017  2018  2019  
Aluminium 1663.69  1604.6  1968.4  2107.64  1794.37  

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Aluminium Historical Price Chart


Aluminium historical price chart
Note: Aluminium prices in USD per metric ton (mt). Daily prices.

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Price forecasts and historical data for Energy, Metals and Agricultural Commodities

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