Industry News

Aluminum & nickel prices climb to record high in several years

Views : 403
Update time : 2022-02-16 22:01:54
Due to the escalating fears that Russia reduces its supply of both aluminum and nickel, which might make the current shortage even worse, the prices of both metals climbed to a record high in several years.

Russia has kept denying invasion towards Ukraine. Russian invasion could mean sanctions against Russian companies such as Norilsk Nickel, accounting for 10% of the global nickel, and Rusal, which supplies about 5% of world’s aluminum.

Market participants said that there is a risk of sanctions on Russia, and people are stocking aluminum and nickel for safety stock level.

According to LME data, aluminum prices reached US$3,333/ton last week, which was very close to the record high of US$3,380.15/ton in July 2008. Also, nickel rose to US$24,435/ton, the highest record since August 2011.
Related News
Read More >>
Enhancing the durability of aluminium profiles with Alborz Pasargad’s nanostructured coatings Enhancing the durability of aluminium profiles with Alborz Pasargad’s nanostructured coatings
May .29.2025
Enhancing the durability of aluminium profiles with Alborz Pasargad’s nanostructured coatings
NASA’s supersonic aircraft clears ‘aluminium bird’ testing, setting up the runway for its first flight NASA’s supersonic aircraft clears ‘aluminium bird’ testing, setting up the runway for its first flight
May .29.2025
NASA’s supersonic aircraft clears ‘aluminium bird’ testing, setting up the runway for its first flight
GAC’s 2Mt bauxite pile-up in Guinea: What built it, what’s blocking it, and what could break the deadlock GAC’s 2Mt bauxite pile-up in Guinea: What built it, what’s blocking it, and what could break the deadlock
May .29.2025
GAC’s 2Mt bauxite pile-up in Guinea: What built it, what’s blocking it, and what could break the deadlock
Russia’s largest aluminium foil mill eyes 12% output growth following investment from RUSAL Russia’s largest aluminium foil mill eyes 12% output growth following investment from RUSAL
May .29.2025
Russia’s largest aluminium foil mill eyes 12% output growth following investment from RUSAL