Aluminium reached $3,000 a tonne for the first time in 13 years Monday, ratcheting up soaring inflation concerns that in turn are boosting the dollar as traders eye higher interest rates to tame runaway prices.
The reading was fuelled partly by a sharp rise in commodity prices, a concern highlighted by news that aluminium has hit $3,000 a tonne for the first time in 13 years on global supply issues. Surging inflation concerns ramped up speculation about the Federal Reserve’s plans for monetary policy. The release Tuesday of US consumer inflation has now taken on more significance, according to analysts.
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