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LME Aluminum Hits Over 2-Year High after Higher-than-Expected Cut Rumor at Weiqiao Group, SMM Reports

iconAug 9, 2017 12:11
Source:SMM
LME aluminum hit its highest level since December 2014 at $ 2,035/tonne last night as rumor is flying about output cut at Weqiao Group.

SHANGHAI, Aug. 9 (SMM) – LME aluminum hit its highest level since December 2014 at $ 2,035/tonne last night as rumor is flying about output cut at Weiqiao Group.

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Meanwhile, SHFE 1710 aluminum also recorded its new high since May 2012 at 16,330 yuan/tonne last night.

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Rumor has it that Weiqiao Group said its output cuts will be higher than expected. 

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