Production of aluminum cookware in Afghanistan
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Since the beginning of the year, aluminum prices have risen 50% on the back of economic recovery after lockdowns.
On the London Metal Exchange (LME), aluminum futures exceeded $ 3000 per ton. Earlier, aluminum reached values above $ 3000 in July 2008, according to Interfax on Monday, October 11th.
So, today futures with delivery in January 2022 have risen in price by more than 2% to Friday’s data – up to $ 3030 per ton.
Since the beginning of the year aluminum prices increased by 50% amid economic recovery after lockdowns. The metal, in demand in many sectors, from beer cans to iPhones, is extremely energy intensive.
Prices received a fresh impetus due to the restriction of energy consumption in China’s industry and the resulting reduction in capacity, which creates the risk of a global shortage of metal.
It was also reported that coup d’état in Guinea, which occurred in September, increased the risks for the market. This country is one of the world’s largest suppliers of bauxite, the main raw material for aluminum production.
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