Aluminum prices touched 3 3,000 for the first time in 13 years
LONDON: Aluminum prices have jumped to સપાટી 2,000 a tonne in global markets for the first time in 17 years, thanks to a supply disruption and a steady rise in demand. Metal commodities are showing strong strength during the epidemic. The metal strengthened on Monday after gaining 15% in the last three weeks. In China, measures to reduce carbon emissions and save electricity have reduced metal production, while a rebellion in bauxite-producing Guinea has raised concerns about the supply of materials used in aluminum production. Smelters in the European Union are also facing rising costs at record heights with both carbon credits and power inputs, Goldman Sachs Group Inc. said. The policy risk for aluminum supplies is growing in China and the European Union. The recent uprising in Guinea does not appear to have directly affected bauxite, but there are concerns that regional tensions will hamper transportation. On Monday, aluminum futures on the London Metal Exchange rose 4.5% to 4,