Aluminum: market plunged into chaos
Aluminum prices on Monday updated our target at $3,000, however ambitious it may seem at first glance. Now the market has moved a little lower, to $2951, and will try to gain a foothold here. Given what is happening in the aluminum sector, the new goal of lifting means $3250 in the near future.
The market is plunging into chaos – this is indicated by its direct participants. Aluminum prices soared to their highest in 13 years – symbolically, just on the 13th – and will continue to rise as supply chain failures remain in force.
Here is not only a coup in Guinea, which accounts for about 20% of the world’s aluminum supply, but also a reduction in metal production in China. In addition, prices are noticeably pressed by the expectation of concluding annual contracts for the supply of aluminum: everyone is pulling time, because the cost of metal is high, but from this it is growing even faster.