Aluminum Rises to Over 3-Year High

2025-11-03 12:34 By Andre Joaquim 1 min. read

Aluminum futures in the UK rose to $2,915 per tonne in November, the highest in over three years amid a backdrop of tight supply.

China reiterated its priority of preventing overcapacity in metal production to curb deflationary pressures.

The country's aluminum output cap of 45 million tons annually is on track to be breached by next year, and moves by Chinese smelters to build new plants in Indonesia continued to face troubles amid higher energy costs and local regulations risks.

Troubles for key smelters elsewhere 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.

Meanwhile, aluminum's ample usage in key fast-growing sectors of electrification maintained buying from consumers.

This added to the improving shorter term sentiment as US and China grew closer to striking a trade deal.



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