Industrial action at the Pinjarra refinery started after the Australian Workers’ Union (AWU) said it opposed Alcoa’s attempt to terminate its agreement.
Meanwhile, total on-warrant aluminium stocks on the LME are now at an 11-year low of 833,075 tonnes, further facilitating positive price action.
On the other hand, supply from China is healthy, according to Commerzbank Research.
“It is somewhat difficult to find a definitive reason behind the surge. Given that China is exporting evermore aluminium, and news of the Alcoa strike came out at the start of the [London] day, the global market is in no shortage of supply. It is therefore...