World aluminum prices fell to $3,481 per ton on March 13 due to easing supply pressures.
Aluminum futures prices in London and Shanghai fell on March 13, 2026, amid concerns about supply from Qatar, although geopolitical risks continued to support the week's gains.
On March 13, 2026, aluminum prices on international markets uniformly adjusted downwards as supply pressure eased somewhat. On the London Metal Exchange (LME), the benchmark 3-month aluminum futures contract fell 1.01% to $3,481 per ton. Similarly, on the Shanghai Futures Exchange, the most actively traded aluminum contract closed the day at 24,960 CNY per ton, down 1.4%.
Supply from Qatar has stabilized again.
Pressure on the price of this metal eased significantly following an announcement from Norwegian aluminum company Norsk Hydro. Accordingly, the Qatalum aluminum smelter in Qatar canceled its production cut plan announced last week. The plant will now maintain stable operations at approximately 60% of its designed capacity.
Geopolitical risks and exchange rate volatility
Despite a decline at the end of the week, aluminum prices still recorded an overall increase of approximately 1% to 1.4% for the entire week. The main reason was the prolonged shipping disruptions in the Strait of Hormuz due to the conflict in the Middle East. This region plays a crucial role, accounting for about 9% of global aluminum production.
In addition, the decline in aluminum prices was also affected by the strengthening US dollar. High energy prices have increased inflation concerns, thereby weakening expectations that the US will soon cut interest rates. A strong US dollar makes commodities priced in that currency more expensive for investors using other currencies.
Trends in other metals on the market
The non-ferrous metals market saw widespread declines on both major exchanges on March 13, 2026. Most notably, tin prices on the Shanghai exchange recorded the sharpest drop.
| Metal | Fluctuations in Shanghai (%) | Volatility in London (%) |
|---|---|---|
| Copper | -0.55% | -1.01% |
| Zinc | -0.6% | -0.3% |
| Lead | -0.45% | -0.36% |
| Tin | -4.14% | -2.91% |
| Nickel | -0.9% | -1.45% |
In a related development, commodity trader IXM is considering restarting its aluminum business this year. This decision comes amid forecasts suggesting the market may face more severe supply shortages due to geopolitical conflicts related to Iran.
