New record prices on aluminum in the world market amid growing supply concerns

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New Delhi: Global crude oil, cereals, metals and edible oil prices continued to rise on Monday in the wake of Russia's nuclear attack. Aluminum showed a new record surface.

Chicago wheat prices have risen as much as five percent due to concerns over supply disruptions due to sanctions imposed on Russia. Aluminum prices on the London Metal Exchange were quoted at an all-time high of ૩૫૨૫ 6 a tonne.

Concerns over supply disruptions have pushed up aluminum prices. Nickel prices were also pro-improvement. Russia accounts for about 3% of global aluminum production.

Malaysian palm oil also rose 3%. Higher crude oil prices have led to a rebound in Japanese rubber futures, according to reports. Natural rubber prices are quoted according to the direction of energy prices. Because synthetic rubber is derived from crude oil.

The rise in Chicago wheat prices on Monday in agricultural markets was the biggest daily surge in a decade. The rise in global wheat prices is expected to be beneficial for India's wheat exporters. Chicago wheat rose more than ૯ 2 a barrel.

In addition, corn was quoted at 4 per cent and soybeans at 2.50 per cent. Russia and Ukraine account for about 40% of global wheat exports. Both countries account for 40 per cent of sunflower exports.

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