Aluminium rebounds from 8-month low, copper hits two-week peak

Business Recorder reported that aluminium slid to an eight-month trough on Monday, pressured by a strong dollar. Three-month metal on the London Metal Exchange nonetheless recovered to $3,058 a ton, up 0.3%, after finding support at $3,023 earlier in the session. That floor was its weakest level since February 13. The greenback sat close to an 18-month high ahead of American inflation figures scheduled for later in the week, which could guide interest rate expectations.

Copper moved the other way, climbing 0.8% to $14,657 a ton after touching $14,688, its highest since September 25. Supply worries drove the move: a landslide that claimed two lives on Sunday led to a partial halt at Codelco's El Teniente mine in Chile, while a strike at Antofagasta's Centinela mine kept going with talks slated to restart Tuesday. The LME cash premium over the three-month contract widened to $181 a ton, its highest since late August.

The metal has lost 19% from its June four-year high as Gulf supply fears faded and expectations of extra Indonesian capacity rose. Citi projects that faster supply growth outside China will tip the aluminium market into a surplus of 1.8 million tons in 2027, compared with a deficit of 941,000 tons this year. Zinc fell 1.3% to $3,758 as LME stocks rose to 132,850 tons, their highest since mid-2025.