The first half of 2025 marked a turning point for the global aluminium industry, arguably its most turbulent period in recent memory. The catalyst was the United States’ imposition of steep tariffs on aluminium imports, a policy shift that triggered a cascade of consequences across global supply chains. What began as a trade policy maneuver quickly escalated into a broader disruption. reshaping cross-border trade dynamics, injecting volatility into global aluminium prices, and constraining demand in some parts of the world from downstream consumers and manufacturers.
Beyond the tariff shock, several structural shifts added complexity to the market. In West Africa, governments began reasserting control over their bauxite reserves by cancelling licences held by foreign operators, which is deemed to be a well-planned move to reclaim economic sovereignty over critical mineral assets. Meanwhile, Thailand emerged as a new hotspot of aluminium demand, fuelled by its expanding automotive manufacturing sector, and thus turned into a major importer of aluminium scrap replacing Malaysia. Together, these developments signal more than just a momentary shift in the global aluminium landscape; they rather reflect a deepening reconfiguration of the value chain. As H2 2025 unfolds, these events are expected to shape up industry trajectories well into the future.
Price volatility fuelled by supply constraints and input costs
Prices staged a rollercoaster rally. By mid-March, the LME benchmark climbed to USD 2,737 per tonne, only to retreat to USD 2,285 per tonne before rebounding to USD 2,593 per tonne at the end of June and pushing past USD 2,650 per tonne in late July. As of early August, prices remain elevated at USD 2,589.50 per tonne.
Events
e-Magazines
Reports
Responses
