The price of aluminum is rising because the United States is considering adjusting metal tariffs.

Aluminum prices rose during the Asian trading session. The three-month aluminum contract rose by 0.1% to $3,079.50 per ton. Analysts from ANZ Bank wrote in a report that President Trump is considering narrowing the scope of US metal import tariffs out of concern that these tariffs are harming consumer interests. However, these analysts added that there are doubts about the possibility of lowering these tariffs, as Treasury Secretary Steven Mnuchin played down the possibility of any tariffs being lifted. The analysts also mentioned that concerns over supply could support aluminum prices after mining company South32 disclosed plans to shut down its Mozambique smelter.