Aluminum prices in the U.S. climbed to new record highs on Monday as domestic inventories tightened sharply, driven by the Trump administration’s steel and aluminum tariffs designed to bolster and revitalize America’s industrial base. According to Bloomberg, the all-in U.S. aluminum price, combining the London Metal Exchange (LME) benchmark and the U.S. Midwest delivery premium, hit a record high of $4,816 per ton, nearly double the level from the December 2023 lows. Aluminum The U.S. remains heavily de ...

A copper cake goes through a furnace. Photographer: Lauren Petracca/Bloomberg Aluminum climbed to the highest level since May 2022, extending a rally built on tightening supply in China and an improving outlook for demand as trade tensions ease. The light metal gained more than 7% in October, its best showing in more than a year, as investors and analysts bet that a state-imposed production cap in China will incrementally tighten supply as demand in sectors such as construction and consumer goods reboun ...