The price of aluminum on the London Metal Exchange (LME) rose by 3% and exceeded the $ 3200 mark per ton, follows from the data of the site. This is the highest level since mid-July 2008. At 14:20 Moscow time, quotes corrected to $ 3150 per ton.
The cost of aluminum has been growing since April 2020, but a sharp jump took place in September this year after the coup in Guinea, which ranks first in the world in bauxite reserves with 20% of global production. The rise in the price of aluminum, which is produced in the course of an energy-intensive process, was also influenced by the shortage of thermal coal in China and the general increase in energy prices.
Against the backdrop of rising aluminum prices, Rusal’s shares on the Hong Kong exchange HKEX rose 6.4% on October 15 and reached a 10-year high. At the close of trading, the company’s shares were worth 8.71 Hong Kong dollars ($ 1.12). By 14:20 Moscow time, the manufacturer’s shares on the Moscow Exchange also set a historic maximum, reaching 80.34 rubles. per paper (+ 1.7%).
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