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    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.

    Marziyeh Horeh

    Marziyeh Horeh is an aluminum analyst at CRU. She covers extrusions and the secondary market in North America. Prior to joining CRU in August 2023, Marziyeh was a post-doctoral fellow at Purdue University focusing on the economics of climate change and sustainability. Marziyeh holds a PhD in Natural Resource Economics from West Virginia University.

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    AMU: Edward Meir’s week in review and thoughts for the week of Oct. 12, 2026

    Base metals had a mixed week. Tin lost almost 4% on the week, finishing at $53,000/ton. Prices dropped to a low of $51,259/ton at one point. Aluminum was another loser, off by about 1.6% on the week. Investors are expecting more aluminum supply going forward, especially out of China and Indonesia. Copper prices tacked on 1.1%. They have now recovered more than half of the $700/ton loss sustained (over the course of a week) following reports/rumors in mid-September that US tariffs on refined copper imports might not proceed after all.