Prices
May 19, 2023
CRU Aluminum: LME Gives Up $2,300 Price Point
Written by Stephen Williamson
A weary market worn down by the absence of any positive demand reports ran below the critical $2,300-per-tonne trading line. Falling all the way to $2,200 before settling in the $2,270 – 2,290 range, the LME is in a new lower range as of the week ending May 19 as bearish sentiment pervades the market.
The LME aluminum three-month price was stable on the morning of May 19, and was last seen trading at $2,2790/t. The aluminum community gathered in London May 16-18 for CRU’s 28th World Aluminum Conference. Some highlights of the key topics discussed during the conference follow. Near term, the global audience was concerned for 2023 H2 but looked beyond the year-on-year (y/y) comparisons to the sustainable future the industry provides producers and consumers of aluminum.
