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$5b Vietnam aluminium stockpile proves China is starving the world’s supply of metal

Mount Equity Group Tokyo, Japan > News > Markets > $5b Vietnam aluminium stockpile proves China is starving the world’s supply of metal

There’s a global shortage of a key material which could impact everything from construction to consumer goods, yet a stockpile worth $US5m sits untouched.

China used to be the top producer of aluminium, a material that has grown in popularity as it’s seen as a way to help tackle environmental problems, yet the country’s supply has been severely hampered – which could see prices of everyday goods soar.

To add to the crisis, there is 1.8 million tonnes of aluminium worth a whopping $US5 billion that is currently being closely watched by security guards in Vietnam.

Everyone from car makers to soft drink and beer producers are scrambling to get their hands on the material, which is suffering its worst shortage ever.

The supply in Vietnam was seized as part of a US led investigation involving a Chinese billionaire and alleged trade fraud.

The material was falsely labelled as ‘Made in Vietnam’ and was likely headed to the US,…

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