Aluminium futures remain elevated, supported by supply constraints and rising demand.
👉 Source: TradingEconomics

Summary:

Aluminum futures rose toward $2,730 per tonne in October, testing the highest in three years amid the outlook of lower supply. Chinese authorities cut their annual output growth target for base metals to an average of 1.5% annually for 2025 and 2026, compared to the 5% target previously. The curb was in line with the China’s aluminum output cap of 45 million tons, which is set to be breached this year under current capacity, amid Beijing’s anti-involution campaign to slow capacity for manufacturers in an effort to control deflationary pressures. Elsewhere, Alcoa announced it will shut its Kwinana alumina refinery in Australia due to deteriorating bauxite or grades. Quick demand for physical aluminum lifted withdrawal requests in global warehouses, with primary aluminum stocks dropping 55,000 tonnes in September to 415,000, although the levels rebounded from monthly lows.

Article Link :

https://tradingeconomics.com/commodity/aluminum