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Aluminium price is rocketing up

Aluminium price is rocketing up

The release of President Trump's latest sanction list imposed against Russian companies, has caused, among other things, considerable fuss in the aluminium market. This list includes the names of well-known individuals such as Viktor Vekselberg, a prominent Russian oligarch who is also involved in aluminium, but particularly the name of Oleg Děripaska, the main shareholder of RUSAL company. RUSAL is a very important producer of primary aluminium, which supplies about 6% of global consumption. RUSAL is also considered as the 2nd largest exporter to the US. In response, RUSAL shares fell sharply and lost almost 60% of their price, but mainly aluminium price began to rise in the London Metal Exchange. Within a period of 11 days, the price has increased by about 300 EUR/t, which is 7,60 CZK/kg depending on the rate! All aluminium producers will have to reflect this growth in the prices of its products.

Further price development is very difficult to predict because Russia has decided to help by injection for the company's budget and try to get over this crisis. On the other hand, the world's aluminium production capacity is sufficient also without RUSAL and other producers are ready to take their chances.


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