Analysis
October 15, 2023
CRU Aluminum: UAW Strikes and Slowing Trailer Build Rates Lower Demand Outlook
Written by Matthew Abrams
The LME aluminum 3-month price was stable on the morning of Oct. 13, trading at $2,201 per tonne at that time. The market is under negative pressure from the stronger-than-expected US inflation data released on Thursday.
The SHFE aluminum price was slightly lower, with the cash contract close to RMB19,015/t, down 1.1% from the previous day. After SHFE trading reopened on Oct. 9, the cash contract demonstrated a continuous weakness throughout the week and LME aluminum was back to the key $2,200 level as it lost its support from the SHFE.
