LME aluminium rose to a year-to-date high on Thursday September 2, while the other base metals also edged up following a bout of profit-taking activity at the end of trading on Wednesday.
Aluminium's three-month price on the LME reached a new 2021 peak of $2,734.50 per tonne on Thursday morning, up 1.65% from Wednesday's closing price of $2,690 per tonne. Rising coal prices due to supply worries in the main producing countries - India and China - have been highlighted as one of the main causes for the push higher. "Both thermal and coking coal were rallying in China as safety checks at coal mines were stepped up and environmental...