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Aluminum Futures Edge Higher, Supported by Prospects of Production Cuts
0205 GMT – Aluminum futures edge higher in the Asian morning session, supported by prospects of productions cuts driven by power shortages in China. Concerns over further reductions to output in China are rising, say ANZ Research analysts in a research report, noting that a heat wave and subsequent drought have caused hydro power in the Sichuan province to fall sharply. This could lead to aluminum production from China falling in August, which would occur against a backdrop of low inventories, the analysts add. The three-month LME aluminum futures contract is up 0.1% at $2,427.00 a metric ton. ([email protected])
Contact: London NewsPlus, Dow Jones Newswires; [email protected]
(END) Dow Jones Newswires
August 24, 2022 05:09 ET (09:09 GMT)
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