Aluminium prices rose by 0.72% to 243.6 due to concerns over alumina shortages, triggered by Guinea’s suspension of bauxite exports. Large future positions were indicated in London Metal Exchange data, with over 40% open interest for December buys and 30-39% for January sales.
Goldman Sachs raised its 2025 aluminium price forecast to $2,700 per ton, citing potential demand growth in China. The International Monetary Fund (IMF) lowered its 2025 global growth forecast to 3.2%, down 0.1 percentage points from its July estimate.
The IMF acknowledged central banks’ efforts to control inflation amid rising global risks. Aluminium production data showed a year-on-year increase, with September’s global primary output up 1.3% to 6.007 million tonnes.
China, the top producer, saw aluminium output rise to 3.65 million tons, driven by strong demand and favourable producer margins.
