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May 2019 | Aluminium Weekly Market Tracker


LME aluminium price down 2.7% last week: Market Summary and Analysis


US President Donald Trump dealt a huge blow to global risk sentiment when he threatened in a tweet to hike tariffs on $200 billion worth of Chinese goods to 25% from 10% as early as this Friday.

LME aluminium price down 2.7% last week The weekly average LME aluminium price was down 2.7% last week to $1,796.9 per tonne, compared with the previous week's $1,846.4 per tonne, with the 3m price at a level last seen in January 2017. Downward pressure emerged amid more than 230,000 tonnes of stock inflows over the week, while continued US dollar strength is also deterring investors. Potential escalation in US-China trade war undermining global risk sentiment In addition, US President Donald Trump dealt a huge blow to global risk sentiment when he threatened in a tweet to hike tariffs on $200 billion worth of Chinese goods to 25% from 10% as early as this Friday. There are growing frustrations as US trade representative Robert Lighthizer accused China of backtracking on commitments in trade talks. Tightness in Chinese market should be alleviated in Q3 On the fundamental side, while aluminium inventories in...

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