According to the market news, the aluminum price touched a 3-year new high on August 17th intraday, mainly benefited by the increasing worry of production in China.
This summer, Chinese aluminum producers were all restricted by the summer power rationing, plus the low inventory level in the US, both caused the aluminum price to increase.
Among them, the inventory level on the London Metal Exchange (LME) of aluminum in the US came to less than 40,000 tons, which was counted as around 3% of the total.
On August 17th, the aluminum price on the LME showed US$2,599.5/ton, decreased by US$2.5/ton.
Aluminum price touches 3-year peak on Aug 17 intraday
18 Aug 2021 14:54 reported by Jordan Huang
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