• As per TradingEconomics, aluminium prices reached USD 2,711.25/t on 3 October, up 0.81% from the prior day.
  👉 Source: TradingEconomics

Summary :

Aluminum futures were at $2,700 per tonne, holding the rally that tested the three-year high of $2,715 on September 16th on the outlook of lower supply. The Chinese Ministry of Industry and Information Technology slashed its 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 Beijing’s anti-involution campaign to slow capacity for manufacturers in an effort to control deflationary pressures, triggering concerns of supply deficits globally. Also, Guinea Alumina lost all of its mining licenses after Guinea’s military-led government transferred all mining leases to a newly created state-run company, potentially halting ore that feeds major producer Emirates Global Aluminum. Quick demand for physical aluminum lifted withdrawal requests in global warehouses, with primary aluminum stocks dropping 55,000 tonnes in September to 413,000, although the levels rebounded from monthly lows.

Article Link :

https://tradingeconomics.com/commodity/aluminum