TradingEconomics reports that aluminium rose to USD 3,023.10/t on 02 Jan 2026, up approximately 0.9% from the prior session, reflecting sustained bullish sentiment following year-end gains. Trading Economics

Summary:

Aluminum futures in the UK rose past $3,000 for the first time since 2022 at the turn of the year on growing concerns of insufficient supply. China, the world’s top aluminum producer, reiterated its priority of preventing overcapacity in metal production to curb deflationary pressures for manufacturers. The country was set to breach its 45 million ton output cap this year, forcing smelters to refrain from growing output in 2026. The developments drove firms to sell their capped supply locally instead of exporting to foreign consumers, driving exports to sink 9.2% annually in November. Meanwhile, moves by Chinese smelters to build new plants in Indonesia continued to face troubles amid higher energy costs and local regulations risks. Meanwhile, high energy costs, equipment failure, difficulty in sourcing bauxite, and geopolitical risks suspended key smelters in other countries including Iceland, Mozambique, and Australia.

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