Aluminum and Metals Slide on Expected Tariff Relaxation: LME Al @ $2,965.75/ton, SHFE @ ¥23,195/ton

Aluminum and broader metals declined on February 13, 2026, as reports suggest US President Trump may soften some tariffs on metal goods, expected to ease supply constraints and cost pressures. On the London Metal Exchange, the three-month aluminum contract fell 2.56% to $2,965.75 per ton by midday; the most-active Shanghai contract slipped 1.76% to 23,195 yuan per ton. Zinc at $3,316.50/ton (-1.54%), nickel at $16,993.38 (-1.49%), and lead at $1,972.38 (-0.52%) also moved lower. The White House is reviewing exemptions and scaling back broad levies, signaling a potential shift from expanding to targeted duties amid mid-term election-year pressure to curb inflation. The policy shift could moderate input costs for industries reliant on aluminum, zinc, nickel, and lead.