2024 LME Aluminium and MJP Price Trends (April 25 Update)

According to the latest data, the LME aluminium price on the London Metal Exchange (LME) is $2579.00 per ton, reflecting the 3-month period closing price (one day delayed). Additionally, LME aluminium has seen an increase of approximately $198/ton, or 8.31%, since the beginning of 2024. Aluminium prices, influenced by the potential threat of Western sanctions against Russian metal, continue to trade around $2,600 per ton.

When discussing international aluminium prices, in addition to LME aluminium, we also refer to the MJP (Main Japanese Ports) market. According to the latest data, the market price composition for the MJP aluminium price includes:

• First Japanese Aluminum Metal Premium Contract for Q2 2024: This contract covers shipments of 1,000 tons or more per month, delivered from April to June, priced at $145/ton plus the average monthly LME aluminium cash settlement price, CIF Japan.
• MJP assessment for the first quarter of 2024: Priced at $90/ton, indicating a rise of about 60% in the second quarter. This assessment exceeds any Quarterly MJP (QMJP) settlements from 2023.

Overall, aluminium prices remain supported by rising premiums in South Korea, China, and across Asia. The market holds mixed views on supply and demand fundamentals, but an increase in trading activity is anticipated over the next two weeks.

Stay informed on the latest aluminium price trends and market updates. Contact us today to discuss how these fluctuations might impact your custom aluminum extrusion projects and explore cost-effective solutions tailored to your needs.