In June, the aluminum contract on the LME traded without major price fluctuations. Concerns about weak economic development continued to put some pressure on prices. In contrast, the economic stimulus package of the Chinese People's Republic, the largest consumer of aluminum, had a supporting effect. The price of the aluminum 3-month contract fell by around USD 100/ton in the course of the month and traded in the narrow range of USD 2,315/ton and USD 2,142/ton.

The general concern about the global economic development continues to preoccupy the aluminum market. Among other things, the mood was depressed by data from China, where the figures paint a picture of a low-growth industry and economy. The German economy remained without growth for a second quarter and is thus now in recession.

April marks the end of a quiet month in the aluminum market. The aluminum 3-month contract was traded on the LME in the narrow range of USD 2290/ton to USD 2462/ton. The contango, which reached a long-term high in March, reduced somewhat in April. Because nearby futures were valued as tight in the market in the meantime, the futures price curve was even traded with a backwardation in the front area in some cases.

In March, turbulence in the banking sector caused unrest on the financial markets. In particular, the crisis surrounding the Swiss bank Credit Suisse worried some market participants. In contrast, reduced expectations of future interest rate decisions by central banks, among other things, had a supportive effect. The aluminum 3-month contract on the London Metal Exchange traded in the comparatively narrow range of USD 2,254/ton to USD 2,455/ton.

In December, the aluminum market continued to bottom out. In particular, the change in the Covid policy of the People's Republic of China and the associated complete relaxation of all restrictions spread optimism. Nevertheless, the aluminum 3-month contract showed a sideways movement despite this news, as the effects of the easing remain difficult to assess in view of the rising case numbers in China.