Price development of aluminium and copper





Spot Price of Aluminium (14 February – 14 March 2025)

 

Since we published our first blog post on 14 February, the spot price of aluminium has gone through a volatile period. The price started at around USD 2,660 per metric tonne and quickly rose to over USD 2,740 before dropping back to USD 2,600 by the end of the month. In early March, the price surged again and stabilised in the range of USD 2,700–2,720 per metric tonne, before falling slightly towards 14 March.


These price movements may have been influenced by electricity prices, expectations of production cuts in China, and uncertainty around trade measures. Aluminium, being extremely electricity-intensive to produce, responds quickly to such factors. What we have observed this month illustrates how sensitive this market is to both policy changes and energy costs.






Spot Price of Copper (14 February – 14 March 2025)


Over the past month, the copper price has shown clear signs of growing optimism in the market. The spot price started at around USD 9,480 per metric tonne and fell to below USD 9,320 per metric tonne within a few days. It then fluctuated slightly before rising in early March, reaching a peak of nearly USD 9,800 per metric tonne. Since then, the price has stabilised somewhat lower but remains at a high level by the end of the period.


The increase in copper prices during the period may be linked to growing expectations of economic stimulus in China. Since China accounts for around half of global copper demand, such developments often fuel market optimism. As copper is seen as an economic indicator, the price trend may reflect broader market expectations of future growth.




 

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