Why are Aluminium Prices so high?
30-09-2026 - Over the past month, the price of aluminium as a raw material has seen a slight decrease, dropping from $3,234.38/t to $3,206.57/t. This suggests a modest downward trend, potentially influenced by changes in supply-demand dynamics or broader economic factors. The forecast predicts a slight increase to $3,220.5/t, a 0.4% rise from the current price of $3,206.57/t, indicating a generally stable market with minimal risk, as the price change is only $13.93/t.
Current forecasts highlight upward price pressure on raw materials, primarily due to supply factors like inventories, with a price impact of $19.67/t. Demand and flow dynamics also contribute to this trend, although technical data suggests potential downward pressure, resulting in mixed signals overall.
According to the Australian Aluminium Council's September 2023 report, the LME primary aluminium spot price is expected to average US$2,300 per tonne in 2023, with projections of US$2,415 in 2024 and US$2,500 in 2025. This indicates a gradual upward trend in aluminium prices over the coming years. However, the forecasted price of US$2,415 for 2024 is significantly lower than the system's prediction of US$3,220.5 for the same period, presenting a contrasting view to the system's forecast.
Current forecasts highlight upward price pressure on raw materials, primarily due to supply factors like inventories, with a price impact of $19.67/t. Demand and flow dynamics also contribute to this trend, although technical data suggests potential downward pressure, resulting in mixed signals overall.
According to the Australian Aluminium Council's September 2023 report, the LME primary aluminium spot price is expected to average US$2,300 per tonne in 2023, with projections of US$2,415 in 2024 and US$2,500 in 2025. This indicates a gradual upward trend in aluminium prices over the coming years. However, the forecasted price of US$2,415 for 2024 is significantly lower than the system's prediction of US$3,220.5 for the same period, presenting a contrasting view to the system's forecast.
What is the current / spot price of Aluminium?
Aluminium Price Today
September 30, 2026
Current Price
3206.57
$/t
What is the forecast for the price of Aluminium?
Aluminium Price Forecast
September 30, 2026
1 Month Forecast
3220.5
$/t
1 Year Forecast
3109.65
$/t
What are the short-term drivers of Aluminium prices?
Over the 1 Month horizon the outlook is moderately bullish due to drivers such as: - The net positions of speculators on the LME - Bauxite imports to United Arab Emirates Br(None) The top contrary drivers for the 1 Month horizon are: - Alumina exports from Brazil - The shape of the futures curve (adjusted for the risk free rate and price volatility) - Short term price trends
What are the long-term drivers of Aluminium prices?
Over the 1 Year horizon the outlook is bearish due to drivers such as: - The net positions of speculators on COMEX - Movements in the Indian Rupee Br(None) The top contrary drivers for the 1 Year horizon are: - The net positions of speculators on the LME - Aluminium LME Delivered In - EWMA-based technical analysis
Will the price of Aluminium go up?
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The Latest Aluminium News
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A00 continues slight correction; aluminum scrap market prices fell by a cumulative 200 yuan/mt this week [Aluminum Scrap Daily Review]
September 29, 2026
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