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Aluminium Prices

Aluminium prices averaged USD 2,571 per metric ton in January, up 1.2% from December. On 31 January, the commodity traded at USD 2,592 per metric ton, up 2.6% from 31 December.

Depleted Chinese inventories point to robust demand at the outset of the year. In addition, EU talks regarding a ban on imports of Russian aluminium provided a further boost to prices. Despite self-sanctioning efforts, Russia still accounts for around 6% of European imports. Additionally, it’s uncertain whether China will continue to absorb Russian aluminium following the removal of a tax rebate on aluminium exports in late 2024.

This chart displays Aluminium (US$/mt) from 2023 to 2024.

Aluminium LME (prices in US$/mt, aop)

Q1 2023 Q2 2023 Q3 2023 Q4 2023 Q1 2024 Q2 2024 Q3 2024 Q4 2024
Aluminium LME 2,400 2,264 2,159 2,196 2,203 2,523 2,385 2,573

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Price forecasts and historical data for Aluminium.

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