Metal Packaging

Steel & Aluminum

In October, the average 3-month (3m) futures price of US HRC Steel CME increased by 1.2% M-O-M and rose by 14.4% Y-O-Y to $965.14/mt. In October, the average price of EU Steel increased by 2.8% M-O-M and rose by 6.3% Y-O-Y to €591/mt. Market sources in both markets reported fairly weak demand. In the EU, steel producers are positioning for import restrictions due to take effect at the beginning of the year and expect higher demand for Europe-produced steel as firms seek to reduce risk. With consumption remaining low, buyers are minimizing purchases.

In October, the average 3m futures price of LME Aluminium increased by 5.0% M-O-M and rose by 6.2% Y-O-Y to $2,783.98/mt. Aluminum prices continued to rise amid strong global demand and tighter supply, with attention on a slowdown in China’s production growth. The US aluminum market is showing dynamic growth, with Midwest aluminum premiums up 8% M-O-M amid tariffs.

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