Aluminum prices fall to lowest since June 2021

Posted 01 July, 2022

Aluminum is falling in price on Friday by almost 1.5%, its price has fallen below 2.4 thousand dollars, which is the lowest since June 2021, according to trading data.

The cost of a tonne of aluminum for delivery in three months on the London Metal Exchange (LME) falls by 1.31% to $2,389 per ton. Below the mark of 2.4 thousand, the indicator fell for the first time since June 2021.

Aluminum quotes have been falling for the fourth trading session in a row, and in the second quarter, the metal lost almost 30% of its value.

Bloomberg notes that the last quarter was the worst quarter for industrial metals since the financial crisis of 2008, as the Chinese economy recovered rather slowly, and fears of a global recession intensified.

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