With China, which produces 60% of the aluminum in the world, the metal has risen to its highest level in ten years. On Tuesday, it ended the session at 2,714 dollars per ton, unseen since 2011.

After copper and iron, it's aluminum's turn to soar to new historic records. Since the beginning of the year, the metal found in cans, cars or in construction, has risen by 35% on the London Metal Exchange. China, the world's largest producer, is being watched closely by the markets: 5 foundries in the Xinjiang region have been ordered to reduce production compared to August. Aluminum production is at the forefront because it consumes a lot of energy. According to calculations by S&P Global Platts, the sector alone was responsible for 6.7% of China's total electricity consumption in 2020. Metal prices had already benefited from electricity rationing this summer, particularly in the southwest of the Yunnan region. Electricity needs exploded with a heat wave that forced many Chinese to turn on the energy-intensive air conditioning. Aluminum needs are not diminishing. Light and recyclable metal, it is with copper one of the pillars of the energy transition, in particular to lighten cars.