Sharing is Caring!
by Chris Black
As demand roars and China supply is curbed (because some climate change BS), aluminum prices just went through the roof, getting very close to historic highs, i.e. $3,300 a ton. Currently, a ton of aluminum is priced at $2,726.50 on the London Metal Exchange. That’s mainly due to China’s output, which is 500,000-600,000 tons lower than was expected at the start of 2021.
Here’s China’s green new deal:
1) Manufacture shortages.
2) Raise prices.
3) Rake in profits.
4) Claim carbon reductions.
5) Rake in more profits selling carbon credits.
6) Laugh at the west.
7) Repeat all.
Meanwhile, Alcoa’s Intalco Works in Ferndale, Washington stopped producing aluminum a year ago, putting hundreds out of work and sent shockwaves through the community. But guess what? The bulk of the plant’s electricity to smelt aluminum came from GREEN hydroelectric dams.
What’s wrong with this picture??
Don’t see that as anything else than China flexing its muscle and screwing the world by raising prices now that they have a quasi monopoly.