Due to rising concern on the tighter supply of aluminum in China, aluminum futures hiked to US$2.237/ton on the New York Mercantile Exchange (NYMEX), hitting a new high compared to the past nine and a half years on Wednesday (March 3).

Shanghai aluminum prices rose by 4.2% to RMB 17,640/ton, with the most-traded April aluminum contract on the Shanghai Futures Exchange (SHFE), which came near the highest level since August 2011.