Aluminium trades above $2,000

According to reports, the price of aluminium has traded above $2,000 a tonne for the first time in almost three years. This is as a result of Chinese authorities cutting production as part of an environmental crackdown. Officials in Shandong province have ordered 3.2 million tonnes of smelting capacity to be shut down, which is more than was anticipated by the market. Some of the measures are aimed at combating pollution and emissions, but other are an attempt to rein in excess capacity.