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Aluminium prices hit decade high as Beijing warns against speculation

Production cutbacks in China in bid to reduce pollution push up global costs for the metal

Aluminium prices hit their highest levels in 10 years on Tuesday as concerns grow about shortages in China, the world’s biggest producer.

The metal, which is used in cans, cars and construction, has risen by 50 per cent over the past year, adding further upward pressure on prices as the global economy recovers from the Covid-19 pandemic.

Aluminium prices hit a record high of $2,727 a tonne on the London Metal Exchange on Tuesday.

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