KALU - Aluminum prices reach 13-year highs on China supply weakness U.S. shortages

Aluminum prices in Shanghai hit a 13-year high while the London benchmark contract climbs within striking distance of its highest level in more than three years. The most-traded September aluminum contract (LMAHDS03:COM) on the Shanghai Futures Exchange +1.6% to 20,575 yuan/metric ton ($3,174.47), its highest since August 2008, and the three-month contract on the London Metal Exchange +1% to $2,627/mt, near its April 2018 peak. Potentially relevant tickers include AA, CENX, CSTM, KALU, ARNC, ACH ETFs: JJU, JJUB "There are a lot of supply challenges in China in terms of summer power rationing and emission targets, while stocks in the U.S. have been quite low due to shipping disruptions," Xiao Fu, head of commodity market strategy at Bank of China International in London, tells Reuters. Yesterday, China released data showing aluminum production slipped for a third straight month in July. Metals and mining shares posted broad losses yesterday after China

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Aluminum prices reach 13-year highs on China supply weakness, U.S. shortages