Aluminum Prices Hit 10-Year High As China Looks To Cut Emissions ...Middle East

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Aluminum Prices Hit 10-Year High As China Looks To Cut Emissions
source : OILPRICE ( Middle East ) () 7
Aluminum prices on the London Metal Exchange hit a 10-year high Tuesday, extending a year-long vertical surge as demand rebounds and supply shrinks, as smelters in top producer China faced tougher power controls, stoking supply worries for the energy-intensive metal. Benchmark three-month aluminum climbed 1.8% to $2,696 a tonne in official trading after touching its highest since May 2011 at $2,726.50, and rapidly approaching all time highs around $3,000. In China, the most-traded October aluminum contract on the Shanghai Futures Exchange…

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