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Aluminum Hits Four-Year High on Fears of China Output Cuts

From finance.yahoo.com

Aluminum jumped to the highest in more than four years as fears of output cuts in top producer China compounded continuing disruptions in the Middle East. The industrial metal rose 0.6% to settle at $3,672.50 a metric ton on the London Metal Exchange, the highest since March 7, 2022. Traders are concerned that Chinese smelters will be asked to trim production amid a nationwide inspection of key industries’ energy use and emissions, according to researcher Mysteel Global. The nation’s aluminum smelters have been running beyond capacity to capitalize on a global shortage caused by the conflict in the Middle East. LME ... (full story)

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  • Category: Fundamental Analysis