LME aluminum inventories drop to lowest level since November 1990
AI Market Summary
LME aluminum inventories fell to the lowest level since 1990 while Norsk Hydro's Alunorte alumina refinery cut output 50% due to natural gas disruptions, tightening the upstream supply chain. The combined supply squeeze pushed London aluminum to a multi-week high and lifted Shanghai alumina futures, signaling near-term stress for the aluminum complex. Copper's move above $14,000/ton reinforces broader industrial metals tightness amid tariff-driven flows.
Impact level
● High
Affected assets
NCCOALUMINIUM2USD/USDT-1.09%
AI Insight · NCCOALUMINIUM2USD/USDTAI Insight
▲ Bullish
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LME aluminum stocks have fallen to their lowest level since 1990. Norsk Hydro’s Alunorte alumina refinery in Brazil cut output by 50% after an interruption to natural gas supplies, despite annual capacity of 6.3 million metric tons. The news lifted London aluminum nearly 2% to $3,373 a metric ton and pushed Shanghai alumina futures up 1%. Copper futures in London also rose above $14,000 per ton as metal flows into the U.S. ahead of a possible U.S. tariff tightened global supply.
