Aluminum price keeps rising amid trade tensions between China, Australia
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Update time : 2021-05-10 22:39:41
The LME aluminum price hiked last Thursday (May 6) amid trade tensions between China and Australia, as well as concerns on supply shortage. The aluminum price has risen by 25% in total so far this year.
According to analysts, as Australia is the main source of bauxite and alumina, raw materials for aluminum smelting, China’s announcement to indefinitely suspend key economic dialogue with Australia will inevitably arouse concerns on supply.
Besides, due to the sharp increase in commodities and global stock markets and Chin’s environmental measures to reduce pollution, which might restrict the supply of raw materials, the aluminum price has been pushed to hike by 25% so far this year, and the price was expected to continue rising.
