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Aluminum Nears Six-Year Low as China Supply Seen Adding to Glut

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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.