Aluminium prices up in Sep, but not enough to delight investors
SummaryThere are not enough tailwinds for the aluminium price to shoot up as there is less demand. China is a key market for metals and the gradual reopening of the economy is crucial for the overall demand to pick up pace.
Aluminium price on the London Metal Exchange is gradually gaining strength. The average price in September was roughly $2185 per tonne, up by 2.2% versus the average seen in August. Do note that the average price in the September quarter is still 4.4% lower sequentially. This suggests that there is a long way to go for aluminium prices to gather adequate momentum.