Aluminum Hits $3,000 For First Time in 13 Years On Supply Snarl

Aluminum reached $3,000 a ton in London for the first time in 13 years amid expectations that supply disruptions are here to stay, while demand keeps rising. 

The metal has surged about 14% over the past three weeks as supply risks increase throughout the industry, from bauxite mining in Guinea and alumina refining in Jamaica to aluminum smelting in China and beyond.

Aluminum climbed as much as 2.6% to $3,000 a ton, the highest intraday level since 2008, on the London Metal Exchange. It settled at $2,896.50 at 5:51 p.m. in London. In China, the metal surged as much as 5.4% to the highest since 2006. Other base metals were lower in London.

— With assistance by Winnie Zhu, Mark Burton, and Yvonne Yue Li

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