FX.co ★ Aluminum Futures Hit Near One-Month High

Aluminum futures rose above $2,520 per tonne, reaching their highest point in nearly a month, as investors responded positively to the latest US-China trade negotiations held in London. These productive talks concluded with a framework agreement designed to advance the Geneva consensus, reinforcing commitments made in a recent presidential phone call. Under this agreement, China is poised to ease export controls on rare earth minerals and magnetic materials, while the US is evaluating the reduction of restrictions on advanced technology exports to China. Although the agreement still awaits the endorsement of each nation’s president, it has sparked optimism for a potential easing of the long-standing trade tensions between the globe's two largest economies. The aluminum market has been significantly affected by political instability in recent months, with the ongoing US-China trade conflict playing a central role.