Aluminum prices fall 16% in June to $3,060 per ton
Aluminum prices have dropped to $3,060 per ton, the lowest since February.
This steep fall (16% in June alone) happened as the US dollar got stronger and earlier supply issues from Middle East conflicts started to ease up.
Things had been shaky when nearly 10% of global aluminum output was disrupted, but supply has now stabilized.
Dollar strength, Chinese investors weaken metals
A stronger US dollar (thanks to tough Federal Reserve policies) has made aluminum and other metals pricier for buyers outside the US.
At the same time, some Chinese investors are moving their money from commodities into booming local stock markets, which means less demand for metals like aluminum.
Copper and iron ore prices also slipped alongside aluminum, showing how these shifts are affecting the whole market right now.