Aluminum has been on a run this year, thanks in part to China ramping up efforts to curtail illegal or polluting capacity, and is now trading above $2,000 a metric ton for the first time in nearly three years.
Aluminum prices rose 1.9% to $2,001.50 per metric ton as of $12:03 PM in London, where the commodity is traded.
China has been cracking down on the production of illegal or polluting aluminum production. Shandong province, China's aluminum producing hub, has called for the closure of 3.21 million tons of illegal aluminum capacity by 12 months from now, Bloomberg reported.
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