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Apr 20, 2024 اردو ► PRINT EDITION ► BR MARKETS ► Dollar to PKR ►

aluminium imports

Aluminium extends rally on growing supply fears
Markets

Aluminium extends rally on growing supply fears

  • Prices have rocketed 25% this year as commodities and equities markets surged and investors anticipate that a crackdown on polluting smelters in China will constrain supply.
  • Adding impetus was China saying it would "indefinitely" suspend all activity under a China-Australia Strategic Economic Dialogue, deepening a crisis in relations.
Published 06 May, 2021 08:56pm
China's pollution clampdown drives aluminium to three-year peak
Markets

China's pollution clampdown drives aluminium to three-year peak

  • Benchmark aluminium on the London Metal Exchange was up 1% at $2,387 a tonne at 1121 GMT. Prices of the metal used widely in the transport, construction and packaging industries earlier touched $2,389, a gain of more than 20% since January.
  • Electricity, much of it from coal in China, can account for 30%-40% of aluminium smelting costs.
Published 23 Apr, 2021 05:35pm
Supply angst propels aluminium to multi-year high
Markets

Supply angst propels aluminium to multi-year high

  • Benchmark aluminium on the London Metal Exchange (LME) was up 1% at $2,315 a tonne.
  • Aluminium, which is used in transport, packaging and construction, earlier touched its highest since June 2018 at $2,323.50 to stand more than 15% up from the start of this year.
Published 14 Apr, 2021 04:51pm
China aluminium giant Hongqiao to publish carbon goals this year, chairman says
Business & Finance

China aluminium giant Hongqiao to publish carbon goals this year, chairman says

  • Hongqiao affiliate Shandong Weiqiao Pioneering Group and state-owned rival Aluminum Corp of China in January issued a joint proposal on how the Chinese aluminium sector should reduce emissions.
  • "We hope to explore specific paths and methods for the low-carbon transformation of China's aluminium industry," he told the Forum, a high-level business gathering hosted by a foundation under the State Council, China's cabinet.
Published 20 Mar, 2021 09:35pm
Aluminium gains on concern about Chinese supply
Markets

Aluminium gains on concern about Chinese supply

  • Three-month aluminium on the London Metal Exchange was up 0.3% at $2,219 a tonne.
  • Decarbonisation and moving to the carbon neutral target will be a key focus at the two sessions in Beijing this week so that's why aluminium and steel would be in the spotlight because they are energy intensive industries.
Published 03 Mar, 2021 06:00pm