London aluminum prices were on track for their seventh straight month of gains as output curbs in China raised supply disruption concerns.
Prices of aluminum have been supported by production curbs in key Chinese smelting regions – often aimed at easing the strain on the power grid – sparking fears of tight supply.
Three-month aluminum on the London Metal Exchange advanced 1.9 percent to $2,700.50 a ton, up 4.3 percent on a monthly basis. The contract hit its highest since April 2018 of $2,716 a ton earlier in the session.
The most-traded October aluminum contract on the Shanghai Futures Exchange increased 0.6 percent to 21,275 yuan ($3,288.91) a ton, hovering near its highest since August 2008 of 21,550 yuan a ton hit in the previous session.