Aluminium futures show strong momentum with price increases of ~7% month-on-month – 1 November 2025
The benchmark aluminium futures closed at USD 2,859.90/t on 24 October 2025, driven by strong buying sentiment despite mixed signals.
👉 Source: TradingEconomics
Summary :
Aluminum futures in the UK fell to $2,850 per tonne from the over three-year-high of $2,900 on October 28th, as a rebound for the dollar and uncertain demand momentarily overtook concerns of lower output. The Federal Reserve tempered bets of a rate cut in its December decision to trigger a rebound for the greenback, pressuring dollar-priced base metals. On the supply front, China reiterated its priority of preventing overcapacity in metal production as strong competition between the country’s smelters contributed to an ongoing producer deflationary spiral. This was in line with its aluminum output cap of 45 million tons annually, which was set to be breached later this year. Troubles for key refineries also pressured supply, with one of two potlines in Iceland’s Grundartangi smelter being suspended due to electrical equipment failure. Also, Alcoa announced it will shut its Kwinana alumina refinery in Australia due to deteriorating bauxite or grades.
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