Aluminium prices hit near 6-month low on China lockdowns, growth fears

Aluminium prices hit their lowest in nearly six months on Friday and copper also dropped as investors fretted over the prospect of weak economic growth hitting metals demand after renewed COVID-19 lockdowns in China and increases to interest rates.

Three-month aluminium on the London Metal Exchange (LME) slid 2.8% to $2,685 a tonne by 1400 GMT after touching the lowest since December last year.

"Price pressure is due to uncertainty on growth prospects, weaker demand from the auto sector as well as the ongoing recovery in China's domestic output," analyst Sudakshina Unnikrishnan at Standard Chartered Bank said in a note this week.

Copper