Aluminium rebounds from 8-month low, copper hits two-week peak
XLB•Aluminium rose 0.4% to $3,062 a ton after touching an eight-month low of $3,023, while copper gained 0.9% to $14,671 after reaching its highest level since September 25. Mine supply concerns supported copper, while the strong dollar pressured aluminium.
1. Aluminium and copper prices
Benchmark three-month aluminium on the London Metal Exchange was up 0.4% at $3,062 a ton by 0938 GMT, after reaching $3,023, its lowest since February 13. It has fallen 19% since reaching a four-year high in June, as concerns about Gulf supply disruptions eased and expectations grew for additional production capacity in Indonesia.
2. Supply outlook and other metals
Citi said accelerating supply growth outside China was likely to push the global aluminium market into a surplus of 1.8 million tons in 2027, from a deficit of 941,000 tons this year. Copper gained 0.9% to $14,671 a ton as a partial suspension at Codelco’s El Teniente mine after a fatal landslide and a continuing strike at Antofagasta’s Centinela mine raised supply concerns. Zinc fell 1.3% after warehouse deliveries lifted stocks to their highest since mid-2025; nickel added 0.3%, lead eased 0.2% and tin gained 1.1%.
