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Strategies & Market Trends : ajtj's Post-Lobotomy Market Charts and Thoughts

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To: Jacob Snyder who wrote (39319)	10/11/2021 11:51:33 AM
From: Jacob Snyder	2 Recommendations of 97561

Aluminum futures break above $3,050 per tonne for the first time since July 2008 as supply disruptions intensified on soaring energy costs. Smelters in China's Qinghai province were told to reduce production to lower the power load, while in Europe aluminum producers are also facing risks. Rising energy prices decrease production profitability causing aluminum smelters to curtail production. Dutch producer Alde announced it will cut output by 60-70% at its Delfzijl aluminum smelter due to high electricity prices. Meanwhile, the European Union imposed an anti-dumping duty on flat-roller aluminum from China excluding some key materials such as metal used by drinks cans, cars and aircraft industrials. tradingeconomics.com Electricity is 40% of the cost of turning alumina into aluminum.

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