Tag: Prices

Base metals had a mixed week. Nickel, copper, and tin were down by 3.6%, 1.2%, and 3.25%, respectively. Copper closed lower in October as well, snapping a three-month winning streak. Tin settled at a six-month low on Friday, breaching $50,000 in the process. The bulk of the selling in both copper and tin occurred on Friday because both these semiconductor-influenced metals got swept up in the equity sell-off. Aluminum was up by 0.8% on the week. Lead was just about flat. And zinc was the best performer, up by 2.6%.

LME aluminum prices returned to February levels despite a 50% decrease in warehouse inventories and a substantial narrowing of the cash-to-three-month contango.

LME aluminum prices moved lower into October as on-warrant stocks declined and investment firms reduced net-long exposure.

China is bumping up against its official primary production capacity limit of 45.3 million metric tons/year, but production can still increase through “capacity creep.”

And there certainly was no shortage of things to talk about. Tariffs, geopolitics, domestic production trends, data center construction, and scrap availability were just some of the topics getting the spotlight.

Aluminum prices recovered after the July 9 checkpoint, but financial and exchange indicators didn’t move uniformly.

AMU’s July survey found recyclers expecting lower Midwest Premium and UBC prices while demand softened, inventories declined and forward views remained mixed.

Canadian aluminum exports to the US have continued to drop since the introduction of tariffs in March 2025, with a growing share shipping off to Europe and Mexico.

Aluminum prices retreated as markets priced a return to Middle East stability, but shipping attacks, military strikes and LME indicators suggest that assumption may have outpaced events.

The recent retreat in aluminum prices has been a “head scratcher” as the Iran war continues to disrupt output from an important production region.