London aluminium prices were flat on Monday as market players weighed risks of a major trade war after U.S. President Donald Trump said he was set to impose new 25% tariffs on all steel and aluminium imports.
Three-month aluminium on the London Metal Exchange (LME) was little changed at $2,628.5 a metric ton, as of 0600 GMT, after two straight sessions of gains.
The aluminium contract on the Shanghai Futures Exchange (SHFE) was 0.2% higher at 20,525 yuan ($2,809.14) a ton, after hitting its highest level since early December 2024 on Friday.
On Sunday, Trump said he would introduce new 25% tariffs on all steel and aluminium imports into the United States, which would come on top of existing metals duties, in another major escalation of his trade policy overhaul.
Trump said he would announce reciprocal tariffs on Tuesday or Wednesday, to take effect almost immediately, applying them to all countries and matching the rates levied by each country.
The main theme of domestic favourable macro front remains unchanged, SHFE aluminium prices showed a ‘v-shaped’ rebound today
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