Aluminum price drops from six-week high after holiday

Aluminum in London declined from a six-week high as markets in Shanghai reopened after a week-long holiday and investors focused on expectations for higher production of the material in China. Metal for delivery in three months fell as much as 1.1 percent to $2,145 per metric ton on the London Metal Exchange after climbing to $2,174 on Feb 15, the highest since Jan 3. "Expectations for further gains in aluminum production in China mean Shanghai prices are ignoring the gains in London last week," said Fang Junfeng, an analyst at Shanghai CIFCO Futures Co.

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