Aluminium's price was up 5.3% on Friday from a closing price of $2,507.50 per tonne on July 1 and at its highest since April 2018.
A range of bullish supply news affected aluminium this month, including the Russian government's export duty tax, which has taken premiums in the US to news highs
and is keeping Rotterdam premiums on the rise
, together with power cuts in the Yunnan province
and floods in the Henan province
, in China.
There have been outflows every day in the month of July for aluminium stocks on the LME, with the on-warrant amount at the...