China’s latest effort to curb air pollution is raising hopes for the global aluminium industry, adding fresh momentum to a rally that has left the base metal as the best performer this year.
Shares in global producers, including Alcoa, have surged this week following the circulation of a Chinese government order calling for curbs to production. Beijing’s focus on aluminium comes after government-ordered cuts to China’s coal output sent prices soaring last year.
The aluminium price has risen 15 per cent this year, outstripping nickel and copper on the London Metal Exchange, and is up 3.4 per cent over the past five days.
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