PRESS ROOM
Aluminium takes the lead as fundamentals remain supportive
Thursday 26th August '21
A combination of improving demand outlook from China, which consumes around 60% of global refined aluminium (Citi Research), and tighter supply is helping aluminium outpace other industrial metals this year. China, also the largest producer of refined aluminium, is imposing stricter environmental restrictions on coal powered aluminium production. As producers adapt to the restrictions and switch to cleaner sources of energy, aluminium supply could remain tight for years. As of 24 August, aluminium’s price is up almost 32% year to date compared to just under 20% for the Bloomberg Industrial Metals Subindex (which also includes copper, nickel, and zinc).