Aluminum futures were trading around 2,600 USD/T in January, a level not seen since June 2022, and are up more than 9% since the beginning of 2023 on prospects of more robust demand and fears of supply shortages. China has been taking significant steps to boost its economy and end the strict coronavirus-induced regime, lifting the outlook for metal demand and overshadowing global recession concerns. On the supply side, several output cuts at key European smelters last year due to a surge in electricity prices, including Alcoa's San Ciprian smelter and Hydro's plant in Slovakia, lent further optimism to bulls. Global inventories now stand at just 1.4 million tons, down 900,000 tons from a year ago and the lowest since 2002. Aluminum hit an all-time high of around 4,100 USD/T in March 2022 in the aftermath of Russia's invasion of Ukraine.

Historically, Aluminum reached an all time high of 4103 in March of 2022. Aluminum - data, forecasts, historical chart - was last updated on January of 2023.

Aluminum is expected to trade at 2558.17 USD/Tonne by the end of this quarter, according to Trading Economics global macro models and analysts expectations. Looking forward, we estimate it to trade at 2362.20 in 12 months time.

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Aluminum



Price Day Month Year
Coal 266.00 -92.10 -25.72% -31.72% 19.42%
Bitumen 3,815.00 -5.00 -0.13% 6.42% 8.57%
Cobalt 49,000.00 0 0% -5.69% -30.99%
Lead 2,182.25 -23.25 -1.05% -3.64% -4.01%
Aluminum 2,617.00 -10.00 -0.38% 13.24% -13.37%
Tin 30,838.00 -1424 -4.41% 24.68% -26.02%
Zinc 3,426.50 13.00 0.38% 14.14% -4.45%
Nickel 28,673.50 -520 -1.78% -5.16% 25.96%
Molybdenum 73.50 0 0% 58.06% 64.25%
Palladium 1,630.50 11.64 0.72% -9.42% -30.61%
Gallium 2,025.00 0 0% 10.96% -10.99%
Germanium 8,050.00 0 0% 1.90% -13.90%
Manganese 32.25 0 0% 3.20% -3.73%
Indium 1,435.00 0 0% 0% -6.51%
Soda Ash 2,676.00 10.00 0.38% 1.06% 22.33%
Neodymium 965,000.00 0 0% 1.58% -24.90%
Tellurium 557.50 0 0% 0.91% 21.86%
Iron Ore 62% fe 122.70 0.21 0.17% 10.74% -6.20%
Rhodium 12,000.00 -250 -2.04% -2.04% -28.78%


Aluminum
Aluminum futures are mostly traded on the London Metal Exchange (LME), the New York Mercantile Exchange (COMEX) and the Shanghai Futures Exchange. The standard future contract size is 5 tons. Aluminum is used widely in aerospace applications, packaging, automobiles and railroad cars and as a construction material. The biggest producers of aluminum are: The Aluminum Corporation of China (Chalco), Alcoa and Alumina Ltd, Rio Tinto from Australia, UC Rusal of Russia, Xinfa from China, Norsk Hydro ASA from Norway and South 32 from Australia. China accounts for nearly 60 percent of global aluminum output. The biggest resources of bauxites, the raw material for aluminum are located in Australia, China and Guinea. The Aluminum prices displayed in Trading Economics are based on over-the-counter (OTC) and contract for difference (CFD) financial instruments. Our aluminum prices are intended to provide you with a reference only, rather than as a basis for making trading decisions. Trading Economics does not verify any data and disclaims any obligation to do so. .
Actual Previous Highest Lowest Dates Unit Frequency
2617.00 2627.00 4103.00 1022.70 1989 - 2023 USD/Tonne Daily