Aluminum is at its peak in 13 years
Aluminum rose to its highest level in 13 years as demand increased in London and some plants were closed from...
Yayınlanma: 9 Şubat 2022 03:30
Güncellenme: 21 Aralık 2024 02:34
The price of aluminum per tonne rose 3.3 percent to $3,236 on the London Metal Exchange, surpassing the peak seen in October, reaching the highest level since 2008.
Many raw materials, from a nickel to natural gas and oil, have been on the rise in recent months with the increase in consumption in the world, which has started to recover from the effects of the pandemic.
Aluminum recorded the best performance this year on the London Metal Exchange. Investors expect prices to rise above $3,380, an all-time high in the tightening market.
With the closure of aluminum plants in many regions, from China to Europe, buyers started to deplete their stocks.
Goldman Sachs Group analysts Nicholas Snowdon and Jeffrey Currie stated that global stocks will run out by 2023, and aluminum prices are on the rise for this reason.
