(Bloomberg) -- Aluminum extended its retreat from an eight-month high as sentiment remained cautious following weak US economic data.
Wall Street suffered its worst loss of the year Friday on more signs of a cooling US economy. Business activity this month expanded at its slowest pace since September 2023, according to S&P Global, while long-term inflation expectations among American consumers reached the highest in almost three decades.
Industrial metals eased following a broadly strong start to 2025. The demand outlook has held up despite risks from President Donald Trump’s efforts to shake up global trade, while a weaker dollar has aided commodities priced in the greenback.
Aluminum, which notched its highest close since May on Thursday, dropped 1.2% to $2,657.00 a ton on the London Metal Exchange at 3:09 p.m. local time. That follows a 1.5% decline Friday. Copper dipped 0.8% and zinc fell 2.6%.
--With assistance from Jack Ryan.
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