International aluminum prices rise to ten-year highs
September 09, 2021
- A coup d'etat in Guinea, a major producer of bauxite, and the market’s panic over the supply of aluminum has pushed up the price of aluminum to a ten-year high.
- According to data from the London Metal Exchange (LME), on September 6, the March aluminum price rose by 1.3% to US$2,768/ton, the highest price since May 2011. On September 7, the price fell back to US$2,759/ton, still at a ten-year high.
- At the beginning of this year, LME's March aluminum price was 2016 USD/ton. Based on this calculation, the increase during the year has reached 36.8%.
- On September 8, the main Shanghai aluminum futures contract broke through RMB22,000/ton in intraday trading, continuing to hit a new high since 2006. As of the close, Shanghai Aluminum's main force rose 0.94% to RMB21,900/ton.