Global Aluminium Prices Fall Over 15%; Chinese Alumina Spot Rises

Aluminium prices plunged more than 15% in June, marking the sharpest monthly decline since 2008. The drop was driven by a surge in global supply, including record‑high Chinese export volumes, the easing of Middle‑East tensions after a tentative U.S.–Iran peace deal, and a stronger U.S. dollar combined with higher interest rates that dented international demand.

In China, the alumina (aluminium oxide) market experienced short‑term price pressure. Spot prices rose in early June, briefly breaking the 2,900 yuan/ton threshold and reaching a high of 2,980 yuan/ton, before retreating to about 2,782 yuan/ton by month‑end. The price movement reflected a temporary supply gap caused by forced production cuts in northern provinces, offset by new capacity coming online in Guangxi, which kept southern prices stable. Ongoing environmental inspections and risk‑mitigation checks added further volatility to regional supply.