LME 3-month aluminum closes $2 lower at $3,086 a ton

LME 3-month aluminum closed at $3,086 per ton on June 30, 2026, down $2 from the previous session, reflecting ongoing market pressures amid evolving geopolitical and economic dynamics. The price decline follows a broader downward trend, with aluminum hitting a three-month low below $3,200 per tonne earlier in the week amid expectations of increased supply from the Persian Gulf following progress in US-Iran talks. The two nations have outlined a roadmap toward a final agreement, potentially allowing the resumption of metal exports from the region, which accounts for roughly 9% of global production.

Despite these developments, uncertainties persist due to operational disruptions in key Gulf producers and continued high output from China and Indonesia. Meanwhile, weak economic data from China, a major consumer of aluminum, has raised concerns about demand. Additionally, a stronger US dollar has increased the cost of dollar-denominated commodities for foreign buyers, further weighing on prices.

The LME Official Price remains the global benchmark for aluminum, underpinning contracts and hedging transactions across 400 warehouses in 32 countries. Analysts expect the price to trade at $3,200.73 per tonne by the end of the quarter and $3,411.41 in 12 months.