Aluminum prices continued to slowly edge downward, but remained within an overall sideways trend. After prices fell 1.31% throughout April, they dropped an additional 2.22% during the first week of May. But despite the softness, aluminum prices have not yet formed lower lows, so an established downtrend is still not confirmed at this time. Interested […]
Tag: aluminum prices
Aluminum MMI: Price of Aluminum Falls, Tariffs Back On
Aluminum prices reacted bearishly in the short term. At the beginning of February, price action showed a short-term sideways trend with no new lows or highs. Indeed, the price of aluminum would need to break out of its current range to form a continuation trend or a reversal downward. However, future price direction currently remains […]
Aluminum MMI: Aluminum Prices Slide From Early-December Peak
Despite the recent short-term bounce, aluminum prices have not quite reversed to the upside following their long decline from March 2022. Ultimately, the rally between November and December was not strong enough to indicate a reversal. Moreover, bearish pressure continues to dominate the market environment at this time. Instead, prices remain largely indecisive. However, the […]
Aluminum Prices and Global Market: a 2022 Review
Aluminum prices reached a high price of almost $4,000 per metric ton on the LME primary 3-month in 2022. However, there were plenty of sales for roughly half that amount, attesting to the wide range of the 2022 index. When March’s rally ended, prices began a decline that resulted in them hitting a yearly low […]
Aluminum Market After Another Fed Rate Hike
Aluminum supply continues to shrink thanks to smelter shutdowns caused by ongoing energy shortages. Aluminum prices enjoyed a brief rebound following the Fed’s latest rate hike of three-quarters of a point. However, in the short term, aluminum prices remain in a downward trend. Earlier this week, MetalMiner noted how smelter shutdowns in China and Europe […]
Aluminum MMI: Aluminum Prices Decline as Energy Crisis Worsens
This week, aluminum prices approached long-term weekly demand zones. These are price levels that typically trigger a strong upswing. Before the most recent short-term declines, prices bounced off these levels, rising back into zones of strong downward movement (supply zones). Should prices continue to break downward, it could indicate a downtrend continuation. Moreover, the longer […]
This Morning in Metals: Steel capacity utilization rises; Hydro inks energy deal; aluminum prices skyrocket
This morning in metals news: the U.S. steel capacity utilization rate rose to 85.3% for the week ending Sept. 11; Norsk Hydro signed an energy deal; and, lastly, aluminum prices have continued to skyrocket. Stop obsessing about the actual forecasted aluminum price. It’s more important to spot the trend. See why. Steel capacity utilization rises […]
Aluminum MMI: Prices breach the $2,000/mt mark
This month the Aluminum Monthly Metals Index (MMI) rose by 7.9%. Check if your service center is providing you with price transparency for your aluminum spend. Aluminum prices continue uptrend During November, LME aluminum prices increased by 10.9%, closing at $2,023/mt. This means that since its April low, the price recovered 38.5% and even reached […]
This Morning in Metals: Aluminum Prices Rally, EU Challenges U.S. Section 232 Tariffs
This morning in metals news, aluminum prices have risen to a seven-year-high following the London Metal Exchange’s ban on Rusal metal, the EU pushes back against the U.S.’s steel and aluminum tariffs, and renewable energy takes center stage among major U.S. companies. Need buying strategies for steel? Try two free months of MetalMiner’s Outlook A […]
