Aluminum prices showed increased volatility on Monday: earlier in the session, quotes reached a new maximum since April 2022, but then began to decline.
The cost of aluminum futures on the London Metal Exchange (LME) until 16:03 sq. During the session, quotes rose 2.8% to $3,544 for the first time since April 2022. Two aluminum smelters, in Qatar and Bahrain, were forced to suspend supplies due to armed conflict in the region.
“A prolonged war will hurt aluminum supplies,” said an analyst at Shuohe Asset Management Co. Gao Yin. According to her, consumers are increasing aluminum reserves for this case.
