Industry News

LME aluminum price hits 3-year high last week

Views : 265
Update time : 2021-04-19 17:24:36
The three-month futures price of aluminum on the London Metal Exchange (LME) hiked by US$51 in total last week, with an increase of 2.25% in a single week. The cumulative aluminum price has risen by roughly 15% so far, and the price on the 16th hit the highest since June 2018.

According to market participants, due to concerns about RUSAL’s supply, which might be affected by sanctions on Russia, as well as worries about China’s possible aluminum production reduction to curb carbon emissions, aluminum prices got higher accordingly.

Meanwhile, LME’s market inventory of aluminum dropped by 5,075 tons to 1,824,250 tons. Market participants expected that the aluminum price will move stably in recent days.
Related News
Read More >>
Ukraine's steel production increases by 15.8% in 2024 Ukraine's steel production increases by 15.8% in 2024
Jan .17.2025
Ukraine's steel production increases by 15.8% in 2024
EU steel & aluminum industries urge stricter scrap export controls amid rising leakage EU steel & aluminum industries urge stricter scrap export controls amid rising leakage
Jan .17.2025
EU steel & aluminum industries urge stricter scrap export controls amid rising leakage
South Korea recommends provisional AD measure on Chinese stainless steel plates South Korea recommends provisional AD measure on Chinese stainless steel plates
Jan .17.2025
South Korea recommends provisional AD measure on Chinese stainless steel plates
LME records highest trading activity since 2015 as nickel & tin lead growth LME records highest trading activity since 2015 as nickel & tin lead growth
Jan .17.2025
LME records highest trading activity since 2015 as nickel & tin lead growth