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China’s aluminum prices continue to rise toward six-month highs reached in April

SHFE two-month aluminum prices extended Friday’s gains, increasing by another 0.6%, to close the overnight session at 14,195 yuan per mton ($1,826 per mton, excluding VAT) amid market talk about rising Chinese alumina prices. In intraday terms, prices traded just below April’s six-month high of 14,270 yuan per mton ($1,836 per mton, excluding VAT) but were unable to break higher amid concerns about growing tensions between the United States and China and economic data showing that Chinese auto sales remained deep in annual contraction territory during April .

 

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