LME’s aluminum futures price touches 13-year new high on Sep 8
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Update time : 2021-09-09 18:12:49
According to the market news, the aluminum price on the London Metal Exchange (LME) faced a 13-year peak on September 8th, mainly because of the increasing worry of short supply in China.
By the latest policy from China, the government decided to restrict the usage of electrical power, further asked those domestic aluminum mills to control their output for the rest of this year, the output should be smaller than the total output's 80% in the first half of this year.
Moreover, the coup of Guinea also aggravate the supply worry, most of the market participants believed the situation might hard to be ease in the near future.
The main theme of domestic favourable macro front remains unchanged, SHFE aluminium prices showed a ‘v-shaped’ rebound today
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