Aluminum fell, approaching a six-year low, on concern that China’s yuan devaluation this week will make exports of the metal cheaper, adding to a global glut.
China’s shipments in 2015 through July surged 28 percent from last year, to a record. The average cost to produce primary aluminum in the country dropped by $12 a metric ton, to $1,728, after China devalued its currency’s fix against the dollar by 1.9 percent, according to Harbor Intelligence in Austin, Texas.
