Aluminum prices hit $1,900 per metric ton this week. Aluminum has surged 13% so far this year.
China Proposes Supply Cuts to Fight Pollution
We already predicted at the beginning of January that China’s supply would be the most important price driver to watch this year.
According to Reuters, in February, a Chinese government document proposed an aluminum shut down for approximately a third of aluminum capacity in several provinces during the winter months. This shut-down would have a significant impact toward reducing pollution for some of China’s most polluted cities.