Aluminum set for best week in three months on China demand hopes
me-metals: Aluminum headed for a strong weekly gain, boosted by signs of rebounding metals demand in China and indications that Beijing’s efforts to revive growth are paying off.
According to me-metals cited from mining.com, Data released Friday showed China’s gross domestic product in 2024 expanded 5%, meeting the government’s target. A stimulus push turbocharged activity in the final quarter with growth of 5.4% — the fastest pace in six quarters and beating economists’ median forecast.
The country’s industrial production and retail sales also beat estimates and home prices declined at a slower rate in December, reflecting signs of stabilization in the property sector, a pillar of demand for industrial metals from copper to steel.
Aluminum rose as much as 1.6% to $2,678 a ton on the London Metal Exchange, reaching its highest level since late November. Prices were trading at $2,672 a ton as of 1:58 p.m. local time, heading for their best week since late September with a 3.9% gain.
Copper also moved higher after the data, before erasing gains as trading progressed on the London Metal Exchange. The metal, which finished last year up 2.4%, has gained about 4.5% so far in 2025, rallying alongside aluminum and nickel on indications of a demand recovery in China.
Copper has also seen a widening price gap with futures on New York’s Comex, as traders react to President-elect Donald Trump’s tariff threats.
Copper was 0.9% lower at $9,145.50 a ton on Friday, paring a weekly gain. Zinc climbed 1.3%, while lead and tin slipped.
source: mining.com
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