AMU
November 8, 2024
CRU aluminum news roundup
Written by Marziyeh Horeh
Aluminum prices jump amid Trump re-election and Fed rate cut, then ease back
The LME three-month price surged on Nov. 7 to above $2,700 per metric ton (mt) and its highest level since May. This was part of a widespread move across markets, apparently buoyed by positive expectations for the economy following the re-election of Donald Trump. In addition, the US Federal Reserve announced that it was cutting the Fed funds rate by a further 25 bps. On Nov. 8, aluminum prices dropped back and were seen trading at $2,640/mt early in the day.
