ACH - London aluminum sprints to 10-year high on China supply curbs

Aluminum jumps to a 10-year high in London, extending a year-long rebound as demand surges and production curbs in top producer China raise concerns of tight supply. Prices (LMAHDS03:COM) rallied as much as 2.9% to $2,726.50/metric ton on the London Metal Exchange, the highest since May 2011 and closer to an all-time high above $3,300. The most-traded contract in Shanghai added another 1.2% to 21,390 yuan/metric ton ($3,311), hovering near a 13-year high set yesterday. Potentially relevant tickers include AA, CENX, CSTM, KALU, ACH ETFs: JJU The Chinese government is raising scrutiny of the energy intensive aluminum industry as it cracks down on pollution, while a seasonal power crunch has also slowed production. This week, China's Guangxi province, an aluminum hub, called for tougher controls on energy consumption, raising the possibility of more output cuts. Some smelters in Yunnan province, another major Chinese aluminum hub, have been forced to cut

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London aluminum sprints to 10-year high on China supply curbs