Aluminium Prices

Aluminium prices averaged USD 2,526 per metric ton in June, up 3.2% from May. On 30 June, the commodity traded at USD 2,597 per metric ton, up 6.5% from 30 May.

Aluminium LME prices benefited from the Iran-Israel truce, a new U.S.-China deal and improving global manufacturing activity. Nonetheless, June’s spotlight was on U.S. prices, as Trump doubled tariffs on aluminium from 25% to 50% on 4 June, pushing the U.S. Midwest premium to a record USD 1,325 per metric ton. The tariff hike is set to further boost scrap imports to the U.S.—which is unaffected by duties—and could spur investment in new production capacity.