Aluminum Holds Decline from 3-Year High

2026-02-09 12:59 By Andre Joaquim 1 min. read

Aluminum futures in the UK fell to below $3,100 per tonne from the three-year high of $3,270 on January 28th, tracking the aggressive pullback for base metals after traders reconsidered their speculative positions.

Base metals eased from their respective peaks from earlier in the year as investors reconsidered concerns of a dollar debasement and speculative usage of metals for soaring datacenter investment globally.

Still, contracts remained higher this year an the outlook of lower supply by the world's top producers.

Output of primary aluminum in China is expected to stall after the major producer hit its output cap of 45 million tons last year.

Moves by Chinese smelters to build new alternative 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.



News Stream
Aluminum Holds Decline from 3-Year High
Aluminum futures in the UK fell to below $3,100 per tonne from the three-year high of $3,270 on January 28th, tracking the aggressive pullback for base metals after traders reconsidered their speculative positions. Base metals eased from their respective peaks from earlier in the year as investors reconsidered concerns of a dollar debasement and speculative usage of metals for soaring datacenter investment globally. Still, contracts remained higher this year an the outlook of lower supply by the world's top producers. Output of primary aluminum in China is expected to stall after the major producer hit its output cap of 45 million tons last year. Moves by Chinese smelters to build new alternative 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.
2026-02-09
Aluminum Hits 4-week Low
Aluminum decreased to 3031.00 USD/T, the lowest since January 2026. Over the past 4 weeks, Aluminum gained 4.06%, and in the last 12 months, it increased 20.13%.
2026-02-02
Aluminum Falls from Over 3-Year High
Aluminum futures in the UK fell below $3,100 per tonne, retreating sharply from the over three-year high of $3,270 on January 28th and tracking the aggressive pullback for base metals as traders reconsidered their speculative positions. Trading volumes for base metals in China maintained their unprecedented highs, indicating that speculative traders in the region closed positions after metals tested peaks throughout the week. The moves happened in response to a rebound in the dollar amid the potential of an upcoming Fed Chairman that has called for smaller Fed balance sheets before, while a pessimistic guidance for Microsoft tamed bets that soaring datacenter investment would lift demand for base metals used in infrastructure and electrification. Meanwhile, global supply is due to slow after China hit its 45 million output cap last year, and Chinese smelters displayed some caution in starting new operations in Indonesia.
2026-01-30