Summary
Aluminum decreased 294.50 USD/Tonne or 16.32% since the beginning of 2020, according to trading on a contract for difference (CFD) that tracks the benchmark market for this commodity.
Aluminum futures are mostly traded on the London Metal Exchange (LME), the New York Mercantile Exchange (COMEX) and the Shanghai Futures Exchange. The standard future contract size is 5 tons. Aluminum is used widely in aerospace applications, packaging, automobiles and railroad cars and as a construction material. The biggest producers of aluminum are: The Aluminum Corporation of China (Chalco), Alcoa and Alumina Ltd, Rio Tinto from Australia, UC Rusal of Russia, Xinfa from China, Norsk Hydro ASA from Norway and South 32 from Australia. China accounts for nearly 60 percent of global aluminum output. The biggest resources of bauxites, the raw material for aluminum are located in Australia, China and Guinea. The Aluminum prices displayed in Trading Economics are based on over-the-counter (OTC) and contract for difference (CFD) financial instruments. Our aluminum prices are intended to provide you with a reference only, rather than as a basis for making trading decisions. Trading Economics does not verify any data and disclaims any obligation to do so. .
Aluminum is expected to trade at 1483.34 USD/Tonne by the end of this quarter, according to Trading Economics global macro models and analysts expectations. Looking forward, we estimate it to trade at 1392.29 in 12 months time.
Historically, Aluminum reached an all time high of 3271.25 in July of 2008. Aluminum – data, forecasts, historical chart – was last updated on April of 2020.