The LME aluminum futures hiked by 2.46% or US$58.5, settling at US$2,437/ton on April 18.
The weakened US dollar made dollar-denominated metal prices cheaper and more attractive, driving up the prices of most non-ferrous metals.
Besides, China’s Yunnan, the main aluminum producer in the world, once again implemented the third power load control, which reduced production. Coupled with improved operating rate of downstream aluminum processing enterprises, the demand was supported, so the LME aluminum price is on upward trend.
LME aluminum price rises by 2.46% on Apr 18
20 Apr 2023 15:01 reported by Joy Liu
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