On May 20, 2026, LME aluminum price broke through $3,600 per ton, hitting a four-year high.
Driven by geopolitical tensions in the Middle East, shipping disruptions and smelter output losses have constrained around 9% of global primary aluminum production and strained raw material transportation, tightening market supply.
Market optimism grows amid supply-demand imbalance. Citi raised the second-half aluminum price target to $4,000 per ton and forecasts it may reach $5,350 per ton in 2027. Industry insiders expect a notable global aluminum supply gap with low inventories, and prices will likely stay elevated.
