Key insights
- Aluminium prices in China fell due to a stronger dollar and recession fears, despite recent supply concerns. A stronger dollar typically pressures commodity prices, while recession fears dampen demand. This could translate to lower earnings for US companies reliant on aluminium or sensitive to global economic slowdown, creating a slightly bearish signal for US equities.
Investing.com -- Aluminium prices declined on Friday as a stronger U.S. dollar and growing concerns about a potential economic recession linked to a prolonged Iran war overshadowed supply concerns that had driven the metal to its largest weekly gain in a month.
The most-traded aluminium contract on the Shanghai Futures Exchange closed daytime trading down 0.78% at 24,660 yuan ($3,585.92) per metric ton. Despite Friday’s decline, the contract posted a 3% gain for the week.
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