Aluminium prices up 30%

Financial journalist Bernard Hickey from interest.co.nz has blogged about the how the price of aluminium has risen 30% this year:

Here’s another commodity market that is rapidly heating up: aluminium. This is good news for Rio Tinto and the people at Bluff, although it may help keep the pressure up on power prices. The [Financial Times] has a nice piece here explaining why aluminium prices have risen 30% this year. However, the fundamentals are not brilliant and people are wondering if it’s another speculative driven squeeze up. Something tells me a vampire squid is making money out of this.

CLICK HERE to read the FT’s story.

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