Connect with us

Base Metals

Aluminum Prices At Highest Level In More Than Three Years

Aluminum prices are at their highest level in more than three years as supply disruptions tighten the market…



This article was originally published by Baystreet

Aluminum prices are at their highest level in more than three years as supply disruptions tighten the market.


Aluminum rose as much as 0.5% to $2,629 U.S. a ton on the London Metal Exchange, near the $2,642 U.S. they hit on July 30, the highest level since April 2018. In Shanghai, the metal rose as much as 1.4% to 20,705 yuan a ton, the highest level since 2008.


Aluminum prices have surged 32% this year, second only to tin among the six major base metals, propelled by a global economic recovery that’s expected to fuel purchases of goods ranging from automobiles to toasters.


Prices for aluminum have also been rising on bets that China, the biggest producer, will curb supply to cut greenhouse gas emissions.


In the latest development, a major fire at a Jamaican aluminum refinery is expected to push the premium buyers pay for the metal to new highs as a potential shortage could further tighten the market.


Prices for other metals have been mixed, with copper flat and zinc edging lower. Metals are recovering from last week’s slump as concerns ease over the economic fallout from the Delta variant of COVID-19 and the prospects for additional stimulus in China.

Base Metals

Chilean top court rejects environmentalists’ appeal on Dominga project

The Third Chamber of the Supreme Court ruled that the project requires final decision from the Chilean President.
The post Chilean top court rejects environmentalists’…

Continue Reading
Base Metals

Dana drives excellence in mining

Gearboxes are a critical component to any mining operation, ensuring the flow of ore and aggregate remains constant in material handling. Enter Dana.

Continue Reading

Ground Breakers: Falling metal prices deliver hangover for Aussie miners

Gold stocks salvage something from the wreckage after a rough morning for Aussie miners BlueScope Steel rated a buy by … Read More
The post Ground Breakers:…

Continue Reading