Aluminum futures traded above $2,600 a tonne in the last week of August, the highest since June 2011 on higher demand, shipping disruptions and tight supply as China suppresses smelting to reduce pollution and meet green targets. Aluminum producers in Yunnan province were told to reduce power consumption and smelter Yunnan Shenho is set to miss its 2021 output target due to the power cuts. Adding to the bullish tonne, China’s state reserves administration announced it will sell 90,000 tonnes of aluminum, less than the market expected following 50,000 tonnes sales on July 5th. Also, containers used to move industrial metals from Asia to US and Europe are in short supply. Meanwhile, global aluminum consumption this year is seen rising 8% on the back of climate change investment.

Historically, Aluminum reached an all time high of 3271.25 in July of 2008. Aluminum - data, forecasts, historical chart - was last updated on August of 2021.

Aluminum is expected to trade at 2604.98 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 2465.96 in 12 months time.


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. .

Contact us

Find us at the office

Trailor- Verkamp street no. 63, 81415 Zagreb, Croatia

Give us a ring

Dezha Manci
+38 695 645 231
Mon - Fri, 8:00-22:00

Reach out