Aluminum increased to the highest level in around three years. LME aluminum for three-month delivery went up by 1.4%, which reached the highest since June 2018.
China's demand is getting very strong this year. In addition, the global economic rebound is pushing up the demand in Asia. As China government tried to decrease carbon emission, the aluminum steel supplies were expected to be reduced which pushed the aluminum price goes even higher. Aluminum output in the Xinjiang region in China will be cut.
Besides, the COVID-19 made the supply even tighter.
