The London Metal Exchange three-month aluminium price reached a new year-to-date high of $2,301 per tonne shortly before 5pm on Friday March 26 and was the only metal to record an increase from the start of the week.
A surge in aluminium trading on Friday afternoon took the price to its highest since June 12, 2018, at the height of the US trade tensions. The price hit a peak of $2,353 per tonne in that month.
The aluminium price closed at $2,298 per tonne, up 2.3% from Thursday's closing price of $2,246 per tonne.
Aluminium's price hike comes at a time when logistics issues, high freight costs and tightness of availability have also pushed global aluminium premiums up.
Fastmarkets' daily assessment of the benchmark aluminium P1020A premium, in-whs dup Rotterdam...