Daily Management Review

Aluminium price jumps to highest in almost three years


The aluminum price jumped to the highest level in almost three years amid Chinese trade data, which eased concerns about demand prospects, trade data shows.

The price of a tonne of aluminium with delivery in three months on the London Metal Exchange (LME) rose 1.37% to $2,293 on Tuesday, jumping to $2,304, the highest since June 2018. Copper rose 0.43% to $8,899.5 and zinc was up 1% to $2,785.5 a tonne.

As became known earlier this week, exports from China jumped 30.6% year-on-year in March, while imports jumped 38.1%. The figures show rising demand in China, the largest consumer of industrial metals.

"The data indicate that China still has significant interest in commodities," Commerzbank analyst Daniel Briesemann told Bloomberg.

source: bloomberg.com