According to global price feeds, aluminium was trading around USD 3,119.58/t on 21 January 2026, nearly flat day-on-day, and remaining elevated on sustained supply tightness and demand expectations.

Summary :

Aluminum futures in the UK hovered around $3,130 per tonne, close to a more than three-year high, amid supply-side constraints in China, the world’s largest aluminum producer. Chinese aluminum output reached record levels in 2025, exceeding the government’s 45-million-ton cap aimed to curb structural oversupply. With demand continuing to rise, particularly from renewable energy, electric vehicles, and infrastructure, China’s limited ability to raise output has been a major bullish driver. At the same time, China’s efforts to expand capacity through new smelters in Indonesia have faced difficulties due to higher energy costs and regulatory hurdles. Meanwhile, temporary suspensions at key smelters in Iceland, Mozambique, and Australia further tightened global supply. However, gains were partially capped by China’s recent clampdown on high-frequency trading.

Article Link :

https://tradingeconomics.com