- Aluminium is now the second-best performer at the London Metal Exchange this year after overtaking copper.
- The price of aluminum at the LME has grown 21% this year, while copper gained 18%. Tin remained the top performer with a 48% increase.
- Demand for aluminum — used in cars and planes — dropped when travel restrictions were in place due to the pandemic, but has since started to rebound as economies reopen.
- Aluminum orders hit their highest since the pandemic started. Surcharges for aluminum in Japan are now at six-year highs.
- Copper dropped to the lowest in a decade on Monday. Chinese markets now have the lowest premiums for the metal since at least 2017, with the country planning to release its copper and aluminum reserves.
Aluminum was nearly unchanged at $2,406 a ton at 11:57 a.m. at the LME, while copper was up to $9,204 a ton.
Source: Bloomberg
