Aluminium Prices

Aluminium prices averaged USD 2,368 per metric ton in April, down 10.7% from March. On 30 April, the commodity traded at USD 2,372 per metric ton, down 5.8% from 31 March.

Prices nosedived in April due to rising trade tensions between the U.S. and China. Tariff escalation between the two countries weighed on market sentiment and drove China’s manufacturing PMI to contractionary territory in April. That said, output in top producer China fell month on month in April, providing upward pressure to prices later in April. Meanwhile, U.S. aluminium premiums were stable throughout April after March’s spike, signaling that the market has adjusted to the 25% U.S. tariff on imports.