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Aluminum jumped to its highest price since 2008 as a deepening power crisis squeezes supplies of the energy-intensive metal that's used in everything from beer cans to iPhones.
Aluminium rose as much as 3.3% to $3 064 a ton on the London Metal Exchange on Monday.
Aluminum jumped to its highest price since 2008 as a deepening power crisis squeezes supplies of the energy-intensive metal thats used in everything from beer cans to iPhones.
(Bloomberg) -- Aluminum has already jumped 50% this year, but some investors are now betting on an even bigger spike. The metal used in everything from beer cans to iPhones is massively energy intensive, and surging power prices are heaping pressure on supply.
Aluminum rose as much as 2.8% to $3,049 on the London Metal Exchange Monday, the highest since July 2008.