15 MAY 2015The Wall Street Journal
Aluminium demonstrates strong performance this year
Edited by : AL CIRCLE
1 min read
Aluminium had been mostly ignored through much of the commodities boom in the first decade of the 2000s, thanks mainly to high supply coming from China, aluminum had been performing strongly this year, along with other metals like copper, zinc and lead.
But since hitting a 12-month high on May 5 at $1,886 a ton, prices for the benchmark three-month aluminum futures have slipped 4.7% while other commodities have continued strengthening.
The fall in prices is rattling aluminum producers such as Russia’s United Co. Rusal, which this week warned of a “new turn” in the global market for the metal.
One factor troubling Rusal is the rising tide of Chinese aluminum exports. That could gather pace after China this month removed a 15% export tax on aluminum products.
But since hitting a 12-month high on May 5 at $1,886 a ton, prices for the benchmark three-month aluminum futures have slipped 4.7% while other commodities have continued strengthening.
The fall in prices is rattling aluminum producers such as Russia’s United Co. Rusal, which this week warned of a “new turn” in the global market for the metal.
One factor troubling Rusal is the rising tide of Chinese aluminum exports. That could gather pace after China this month removed a 15% export tax on aluminum products.
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