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.

The uncertainty on the aluminum market continued in November. Although the London Metal Exchange spoke out against a ban on the storage of Russian metals. - This was a logical decision for many market participants, but it was too long in coming. - However, a statement of the U.S. government on this issue remained absent. Thus, the aluminum 3-month contract on the London Metal Exchange traded mostly unexcited in a range of 2,217 USD/t to 2,500 USD/t. In addition to the hopes of some market participants for a looser COVID policy in China, a weak US dollar also ensured an upward trend.

An October characterized by volatility lies behind us, as great uncertainty continues to prevail on the aluminum market. After the London Metal Exchange announced at the end of September that it had begun consultations on a ban on the storage of Russian metals, a further press release caused additional uncertainty. The report on the U.S. government's deliberations on the further handling of Russian aluminum products caused the price of the aluminum 3-month contract to rise to a high of USD 2,400 per ton. Overall, the light metal traded in a USD 258 wide range.

Another month of uncertainty and lack of foresight lies behind us. Talks at the aluminum fair confirmed last month's assessment. The same bearish sentiment was seen among investors, which is why the price of the aluminum 3-month contract on the London Metal Exchange continued to fall, trading in a range of USD 2,363/t to USD 2,080/t. At the end of the month, volatility was caused by a report on the LME's deliberations on a possible ban on the storage of Russian metals.

Sentiment in German boardrooms deteriorated further in August. But in China, too, concerns about economic development amid new lockdowns are driving investors' expectations. The recessionary mood left the price of the aluminum 3-month contract on the London Metal Exchange trading in a comparatively narrow range of USD 2,339/t to USD 2,527/t at an overall low level.

As in the previous month, inflation rates in the USA and Europe remained at a historically high level of over 9 percent. In addition, the global economic outlook continued to deteriorate. Growth in the manufacturing sector in the People's Republic of China also fell short of expectations.

Cooling global manufacturing growth, historically high inflation rates such as in the U.S. and Europe, and rising interest rates dampened investors' economic expectations last month.

The zero-covide strategy in the People's Republic of China and the associated lockdowns and the effects on consumption there remained one of the dominant topics in the aluminium market in May. In the country, which is considered the largest sales market for European car manufacturers, new car sales fell by over 40% compared to the previous year. Which is why the worry lines are growing as we look at the domestic economic development. 

In April, the aluminum market was dominated by three issues. Firstly, the Russia-Ukraine war continued and Russia halted gas supplies to some Eastern European countries, and secondly, the People's Republic of China's zero covid strategy caused lockdowns in the most populous cities of Shanghai and Beijing. In addition, the US dollar rose to a five-year high and put pressure on the price of aluminum.

Every day we follow the horrific developments in the Russia-Ukraine war. Even though the focus is on the terrible acts of war and the human tragedies, we try to summarize the events and effects on our industry. During the month, the aluminum price traded in a wide range from USD 3,220/t to USD 4,074/t, its highest level ever.

All diplomatic efforts unfortunately failed to prevent an escalation in the Russia-Ukraine conflict in February. After Putin initially recognized the pro-Russian separatist areas as independent republics, he launched an attack on Ukraine a day later. As a result of the escalation, the aluminum 3-month contract on the London Metal Exchange was quoted at its highest level ever.

In January, the aluminum market found itself caught between a number of different issues. On the one hand, the world was concerned about the escalating Russia-Ukraine conflict. Another concern is that of increasing inflation, which is why the U.S. Federal Reserve announced that it would be scaling back bond-buying programs and raising interest rates. On the other hand, market participants tried to hedge aggressively with primary aluminum volumes at the start of the year.