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According to the report, aluminum spot price at the London Metal Exchange (LME) dropped about 20% year-on-year in the June quarter of this year. The average price was US$1,799/ton due to the rising tension of the trade war between the US and China which hurt the aluminum requirement from China. The lift of the US' trade and financial sanctions on Rusal, the biggest Russian aluminum maker, was another reason for the decrease in prices.

Based on the report from the Australian Resources and Energy Quarterly report, LME spot price was seen to decline by 11% in 2019 even the Chinese government might launch the fiscal stimulus measure to reduce the influences of the trade war with the US as it targeted to lift up aluminum demand and support the global aluminum prices in the second half of 2019.

Aluminum spot price at LME was expected to rise by 4.7% to an average of US$1,967/ton in 2020.

Some environmental restriction plans and winter production cuts in China might also help to lift up the price. Also, China’s stimulus measures could also help to raise the aluminum demand from markets like Vietnam, Thailand on rising imports.