Aluminum prices exceed $3,000 per ton for the first time in three years

Global aluminum prices have exceeded $3,000 per ton for the first time since 2022. The increase in quotes is attributed to a reduction in supply on the global market and consistently high expectations for demand.

According to Trading Economics, as of 1:23 p.m., the price of aluminum reached $3,011 per ton, equivalent to $30.11 per kilogram. The last time such price levels were recorded was more than three years ago.

As Bloomberg notes , the shortage of the metal is primarily due to capacity constraints in China, the world’s largest aluminum producer. Additional pressure on the market is also being exerted by Europe, where some plants are reducing smelting due to high electricity prices, which has led to a decrease in global inventories.

At the same time, demand forecasts remain positive. Analysts expect active consumption of aluminum from the construction industry and the renewable energy sector, which supports further price growth.

Chinese authorities, for their part, are stepping up the fight against excess production capacity. As a result, companies are increasingly reorienting sales to the domestic market, reducing exports. In November, the volume of aluminum supplies abroad from China decreased by 9.2% year-on-year.

Construction of new aluminum plants in Indonesia is also progressing slowly. Metallurgical companies face high energy costs and legal risks. In addition, bauxite supply disruptions, technical problems and geopolitical factors have led to the suspension of operations in countries such as Iceland, Mozambique and Australia.

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