Aluminum prices fell during today with a dollar's slight rise as well as the markets focus shifting towards the meeting of the US Federal Reserve, which will start today in addition statements on the trade war from different sides.
US President Donald Trump said the European Central Bank (ECB) is endorsing monetary policies that cause the euro to be devalued against the dollar, giving the bloc's exports competitive advantages at the expense of the United States.
"These policies push the euro area, China and other countries and economic blocs to harm the US economy," Trump said.
The US Federal Reserve meeting will begin today and will continue until tomorrow, followed by the interest rate decision and a press conference by the Bank's President, Jerome Powell.
These factors affect commodities and metals in global markets, including aluminum, which has fallen 2.1% since the beginning of this year. after the metal hit an all-time high of $3271.2 per tonne in July 2008, while its all-time lowest was at $1022.7 per tonne in November 1993.
In terms of trading, aluminum prices fell by 0.3% to $1758.5 per tonne, with the highest price of the day at $1763.5 and the lowest at $1745.