Aluminum prices jump to 13-year high; extreme power requirements for manufacturing prompts China to halt production | WHAT REALLY HAPPENED X-Frame-Options: SAMEORIGIN

Aluminum prices jump to 13-year high; extreme power requirements for manufacturing prompts China to halt production

Aluminum’s price climbed to $3,064 a ton, up 3.3 percent, at the London Metal Exchange on Oct. 11. – the highest recorded since July 2008. Prices for other base metals have also risen, with zinc up by 2.5 percent to $3,230 a ton and copper rising by 1.9 percent.

Industry insiders claim aluminum requires a lot of power to produce. Each ton of aluminum needs about 14 megawatt-hours to produce, which is enough to run a home in the U.K. for more than three years. The insiders add that the aluminum industry would be the fifth largest power consumer in the world if it was a country.

Comments

SHARE THIS ARTICLE WITH YOUR SOCIAL MEDIA