The price of aluminum in Shanghai has risen at a record pace since April

On Thursday, the price of aluminum during the trading in Shanghai rose by 2.7% to 14,885 yuan per ton. Record growth rates of the price since April are explained by fears of an increase in the cost of production of this metal. The contract on aluminum with delivery in three months on the London stock exchange of metals has risen in price for 0,7%. Analysts at Huatai Futures expect a sharp rise in the cost of aluminum production due to strikes at Alcoa's alumina mine in Australia and the actions of the Chinese authorities to limit the supply of electricity to aluminum producers. They calculated that alumina and electricity account for up to 70% of producers' expenses.

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