The LME aluminum price is the price at which aluminum trades on the London Metal Exchange (LME). LME aluminum prices are quoted in U.S. dollars per metric ton and are benchmarked against the price of aluminum for delivery in three months.
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The LME is the leading international marketplace for trading metals and metal derivatives. It is the world's largest industrial metals market and serves as the global price benchmark for a range of metals including aluminium, copper, nickel and zinc.
Why LME Aluminum Prices Matter?
LME aluminum prices are used as the benchmark price for the global aluminum market and are an important indicator of the health of the global aluminum market.
It is used by producers, traders and consumers to make pricing decisions and manage risk in their aluminium-related activities.
Factors Affecting LME Aluminum Price
LME aluminum prices are determined by supply and demand dynamics in the global aluminum market. It is influenced by a range of factors, including economic and political conditions, global trade tensions and technological advances in the aluminum industry.