Aluminum Prices Post Biggest Weekly Decline in 14 Months
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Aluminum fell, capping the biggest weekly drop in 14 months, on signs that increasing output in China will add to a global glut.
Global output increased 5.7 percent in January from a year earlier to 3.917 million metric tons, the International Aluminium Institute said Feb. 20. Chinese production surged 16 percent, the IAI figures showed. Production exceeded demand by 419,400 tons last year, figures from the World Bureau of Metal Statistics showed this week.