Aluminum falls as US-China trade negotiations continue

The price of aluminum fell during trading today as markets followed the resumption of the trade negotiations between the United States and China.

US President Donald Trump has announced a trade truce with China and removed the ban on Huawei, which will calm markets and boost demand on industrial goods and metals, including aluminum.

Trump revealed that the trade negotiations with China should witness concessions and privileges for an agreement to be reached between the two countries.

In a related context, by 14:22 GMT, the dollar index (against a number of major currencies) stabilized at 96.8 points, the highest level at 96.8 points, the lowest level at 96.6 points.

PepsiCo said yesterday that it plans to produce bottled water in aluminum as part of its efforts to eliminate the usage of plastic materials.

In terms of trading, aluminum prices fell by 0.3% to $1794 per ton, with the highest price of the day at $1811 and the lowest at $1790.5.