The industrial metals ETF Penghua rose over 1.2%, as disruptions in Middle Eastern electrolytic aluminum supply exceeded expectations
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The supply of electrolytic aluminum in the Middle East has been significantly disrupted due to the US-Iran conflict, with aluminum industrial facilities in the UAE being attacked, leading to the shutdown of the EGA Tiwala smelter, which is expected to take 12 months to resume production. The total reduction in output reaches 2.17 million tons, accounting for 2.89% of the global supply. In the context of a peak consumption season and inventory destocking, electrolytic aluminum has become a popular industrial metal. The industrial non-ferrous ETF Penghua rose by 1.21%, and the CSI Industrial Non-Ferrous Metals Theme Index increased by 1.47%
Source: 腾讯新闻 - 财经 The copyright of this article belongs to the original author/organization.
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