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Aluminum reached the 13-year highs

Septembre, 08 2021
watermark Economic news

The price of aluminum jumped to the highest in 13 years amid traders' concerns about possible disruptions to supplies from Guinea, the main producer of bauxite, after the coup in that country. An additional factor in the price increase is the restrictions in China related to the policy of reducing CO2 emissions.


Dow Jones reports that aluminum futures for delivery in three months on the London Metal Exchange (LME) on Wednesday rose to $2.798 per ton – the highest since 2008. The October aluminum contract on the Shanghai Futures Exchange reached $3.416 per ton during the session.


Since the beginning of the year, aluminum has risen in price by almost 41% on the LME due to high demand for the metal in the world while reducing its production in China due to carbon restrictions. Aluminum showed the second best result among the main metals in London after tin.


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Risk Warning:
Foreign exchange trading carries a high risk of losing money due to leverage and may not be suitable for all investors. Before deciding to invest your money, you should carefully consider all the features associated with Forex, as well as your investment objectives, level of experience, and risk tolerance.
Foreign exchange trading carries a high risk of losing money due to leverage and may not be suitable for all investors. Before deciding to invest your money, you should carefully consider all the features associated with Forex, as well as your investment objectives, level of experience, and risk tolerance.