FX.co ★ Aluminum Futures Rise as US-China Trade Talks Loom

Aluminum futures have climbed to approximately $2,460 per tonne as investors reacted positively to progress in US-China trade discussions. President Donald Trump disclosed that representatives from both nations are set to convene in London today, with US Treasury Secretary Scott Bessent and Chinese Vice Premier He Lifeng leading the talks. This meeting is a follow-up to a recent conversation between Trump and President Xi Jinping, which Trump characterized as "a very good talk." However, concerns about the health of China's economy, the largest consumer of aluminum globally, remain a concern for investors. Data published Monday revealed that China's export growth for May fell short of expectations, primarily due to a significant reduction in shipments to the US amidst ongoing trade frictions. Simultaneously, imports declined more than anticipated, indicating weak domestic demand. Further compounding the negative outlook, consumer prices have decreased for the fourth consecutive month, and producer price deflation has intensified to its most severe level in nearly two years, showcasing ongoing disinflationary pressures.