- Market outlook remains firm but cautious
- Seasonal slowdown weighs on short-term demand
London Metal Exchange (LME) aluminium prices gained during week 40 of CY’25 (29-03 October 2025).
LME aluminium prices rose w-o-w, supported by declining inventories. However, demand remained muted due to the Chinese holidays. Despite only a slight price increase, ongoing supply concerns have continued to keep aluminium prices firm.
Pricing, inventory trends
LME aluminium prices averaged $2,687/tonne (t) in week 40, increasing by $40/t w-o-w or 1.5% from week 39 (22-26 September). Prices opened the week at $2,675/t, rose to around $2,680/t mid-week, and closed slightly higher at $2,705/t.
Meanwhile, aluminium stocks at LME warehouses edged down by 1% w-o-w, to 512,219 t in week 40 from 515,705 t in week 39.
Outlook
Aluminium prices are expected to remain firm in the near term, supported by tight inventories and persistent supply concerns. However, demand may stay subdued amid seasonal slowdowns and recent Chinese holidays, potentially limiting significant upside in the short run.
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