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China’s environmental goals are driving aluminum prices to a 10-year high ...Middle East
Aluminum prices have jumped to the highest in 10 years, driven skyward in part by a crackdown on energy usage in China. That’s rippling through the cost of everything from Heineken cans to kitchen wrap.Prices for the lightweight, silvery element have climbed 35% this year, according to FactSet. That’s been a boon for Pittsburgh-based Alcoa, the aluminum supplier whose stock price has almost doubled during that span. It’s been a different story for companies like Reynolds Consumer Products—the kitchen-wrap maker’s CFO recently told analysts that it’s facing hundreds of millions of dollars in increased costs from higher prices for resin and aluminum. Heineken’s CFO says commodity costs includi
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