LME OFFICIALS: Aluminium price tops $2,000 for first time since 2013

Aluminium prices breached $2,000 per tonne in an otherwise subdued official trading session on the London Metal Exchange on Monday July 21.

The light metal settled at a three-month price of $2,006/07 per tonne, compared with an opening level of $1,976 per tonne, and saw an intraday high of $2,015. The price has not breached $2,000 on an official basis since February 2013. The cash to three-month contango held at $19, as the official cash price came in at $1,987/88 per tonne on Monday. Physical traders had reported increased demand on Friday, on growing requirements in the automotive industry, coupled with falling availability as producers shut down for the summer. Inventories...

Published

Claire Hack

July 21, 2014

15:11 GMT

London