Aluminium prices fell by 2.15% to 241.6 due to disappointment over China’s limited fiscal stimulus measures. The package aimed to ease debt repayment burdens for local governments, but fell short of investors’ expectations. The potential for higher tariffs under the US President-elect also loomed over the metals market, causing concerns about reduced demand for Chinese…
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,…
Aluminium prices rose by 0.91% to 239.55, driven by higher production costs and record-high alumina prices. China, the world’s largest aluminium producer, cut its benchmark lending rates as part of stimulus measures to revive its slowing economy. Global primary aluminium output rose 1.3% year-on-year in September to 6.007 million tonnes, while China’s aluminium production increased…
After previous price falls and continued supply concerns, there was optimism about higher demand in China, which led to a 0.65% uptick in aluminium prices yesterday, to end at 232.45. China’s decision to keep its key lending rates at their current levels reflects the limitations placed on its monetary easing initiatives by declining interest rate…
Due in large part to changes in inventory levels and reasons related to the global economy, aluminium prices finished yesterday at 231.5, down 0.43%. Pressure on the market was exacerbated by LME inventories, which more than doubled in just one month, reaching 1.1 million tonnes. Bearish sentiment and fears over oversupply are reflected in the…
Short covering and worries about a lack of supply on the international market caused aluminium prices to jump by 1.07% yesterday, closing at 235.5. At a substantial discount of $62.44 per tonne to the three-month contract, the largest since August 2007, the London Metal Exchange (LME) cash aluminium contract was traded. The reason behind this…
Due to yesterday’s higher dollar, better-than-expected US job data, and inconsistent trade data from China, the country’s top metals consumer, aluminium slid 2.5% to 235.6. The US economy produced significantly more jobs last month than anticipated, according to data, which raised the dollar and suggested that the Federal Reserve would postpone starting its easing cycle…
Aluminum prices increased by 1.07% to reach 241.65 as a result of increased confidence over prospective rate cuts by central banks and their expected benefits for economic expansion. Gains were restrained, nevertheless, by worries about the market’s weak demand. An important intermediate component in the manufacturing of aluminum, alumina, has become scarce as a result…
