Aluminum tumbles on rising supply woes


    HANOI- Aluminum prices fell on Tuesday, as fears that Chinese authorities might start selling the metal raised concerns about an inventory pile up.

    The most-traded May aluminum contract on the Shanghai Futures Exchange dropped as much as 6 percent to 16,480 yuan ($2,531.45) a ton, its lowest since Feb. 22.

    Three-month aluminum on the London Metal Exchange declined 2.7 percent to $2,211 a ton, after dropping 3.6 percent to $2,190.50 earlier in the session.

    Aluminum prices fell on market chatter that China’s National Food and Strategic Reserves Administration will be selling the metal into the market, a metal analyst and a trader based in China said.