Aluminum Extends Climb on Refinery Closure

By Anonymous

Aluminum prices continued rising Thursday, bolstered by the planned closure of one the world’s largest alumina refineries.

Aluminum for delivery in three months rose 1.9% to $2,248 a metric ton on the London Metal Exchange. Prices have risen to their highest level since June lately, lifted by the news that Norwegian aluminum and energy firm Norsk Hydro ASA plans to fully shut its Alunorte alumina refinery in Brazil. Alumina is the key ingredient in aluminum.

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