| After nickel, it is aluminum which has been gaining massively as Indonesia enforced a ban on unprocessed mineral ore shipments, effective January 12. Initially the impact of the ban was felt less on this base metal’s prices probably thanks to higher supplies in China.
Also, bauxite (an aluminum ore) which has a huge reserve in Indonesia, makes up a small part of aluminum’s total output cost. Whatever be the case, the ban gradually started to gnaw on the aluminum inventory thus pushing the prices for the metal higher..............................................Full Article: Source
|