Market Frenzy Drives SHFE Aluminum to Over 4 Year High, SMM Reports

Published: Apr 17, 2017 10:22

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SHFE 1706 aluminum soared to the highest since March 2013 today on rampant market speculation triggered by two pieces of news, SMM reported.

SHANGHAI, Apr. 17 (SMM) – SHFE 1706 aluminum soared to the highest since March 2013 today on rampant market speculation triggered by two pieces of news, SMM reported.

The government of Changji Prefecture, Xinjiang, ordered three local companies to halt construction of illegal aluminum capacity, according to the government website on April 14.

Xinjing Halts 2 Million Illegal Aluminum Capacity Construction

Meanwhile, it is rumored that the National Development & Reform Commission (NDRC) will issue a notice on cleaning up illegal projects in aluminum industry. This fueled expectations that China will tighten control over aluminum supply.

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