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Supply worries drive aluminium to highest level in more than four years

From zawya.com

Aluminium prices hit their highest in more than four years on ​Tuesday, as rising ⁠prices for the feedstock alumina added to persistent concerns about a tightening market amid reduced supply from Gulf producers. Three-month aluminium on the London Metal Exchange rose 0.8% ​to $3,680in official open-outcry trading after hitting $3,707.5, the highest since March 24, 2022. The metal's record ​high of $4,073.5 ​was on March 7, 2022, when markets were grappling with the immediate fallout of Russia's invasion of Ukraine. Providing support to aluminium on Tuesday ⁠was a 5% rise in September alumina futures on the ... (full story)

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  • Category: Fundamental Analysis