Aluminum prices soar as supply worries mountBloombergAluminum yesterday rose for a seventh day — to near the highest in a decade — as deepening Chinese output cuts raised fears of a supply shortfall. The southwestern Chinese province of Guangxi, a major metals producer, would cut output of energy-intensive materials, including aluminum, people familiar with the matter said. Aluminum prices have rallied almost 40 percent this year on the LME, second only to tin among six base metals. However, iron ore still faces headwinds as the world’s largest steel market faces several challenges for the rest of this year. Earlier this week, Baoshan Iron & Steel Co (寶山鋼鐵), the listed unit of China’s biggest producer, flagged the potential for renewed price declines in iron ore.

Source: Taipei Times August 31, 2021 15:56 UTC