Industry News

LME aluminum futures rise on supply concerns

Views : 72
Update time : 2024-12-05 21:00:58
South Korea stored a large amount of aluminum and copper in LME-registered warehouses. After the country’s president Yoon Suk Yeol declared an emergency martial law on Tuesday (December 3), which was later rejected by parliament, the LME was paying close attention to the situation and will take action if necessary to maintain market order.

Additionally, supply disruptions in Australia and Guinea, RUSAL’s decision to cut production by more than 6%, and news of raw material shortages triggered systemic buying. Besides, a weaker US dollar index further supported metal prices, making US dollar-denominated commodities more attractive to buyers in other currencies, pushing up LME aluminum prices.

On Tuesday, LME aluminum futures rose by 0.75% to close at US$2,609.5/ton.
Related News
Read More >>
The main theme of domestic favourable macro front remains unchanged, SHFE aluminium prices showed a ‘v-shaped’ rebound today The main theme of domestic favourable macro front remains unchanged, SHFE aluminium prices showed a ‘v-shaped’ rebound today
Mar .12.2025
The main theme of domestic favourable macro front remains unchanged, SHFE aluminium prices showed a ‘v-shaped’ rebound today
Uzbekistan’s aluminium cans manufacturing unit to reduce dependency on imported aluminium packaging Uzbekistan’s aluminium cans manufacturing unit to reduce dependency on imported aluminium packaging
Mar .12.2025
Uzbekistan’s aluminium cans manufacturing unit to reduce dependency on imported aluminium packaging
Two contrast sequences set to boost China’s aluminium smelters’ profitability, offsetting tariff losses. What are they? Two contrast sequences set to boost China’s aluminium smelters’ profitability, offsetting tariff losses. What are they?
Mar .12.2025
Two contrast sequences set to boost China’s aluminium smelters’ profitability, offsetting tariff losses. What are they?
International crude oil prices increase on Mar 11 International crude oil prices increase on Mar 11
Mar .12.2025
International crude oil prices increase on Mar 11