Aluminum cost jumped to a ten-year high after the couch in Guinea. This is evidenced by the data of the London Metal Exchange (LME).
By Monday morning, September 6, the price of a ton of metal rose to $ 2727 (+1.2 percent to past closure). Previously, during trading, the price of futures with delivery in three months rose to $ 2775.5 per ton, which was a record meaning since May 2011.
In Guinea, the Gosperary occurred in Guinea: on September 5, the military announced the seizure of power and arrested President Alpha Conde. Soon after, a statement was followed by the closure of boundaries, the dissolution of the government and parliament, as well as the suspension of the Constitution.
The political situation in the country caused serious concerns about the supply of bauxite (raw materials for the manufacture of aluminum) from the country. According to the Russian billionaire Oleg Deripaska, the aluminum market may wait for a serious shake.
“Aluminum market can seriously shake this situation. 20 percent of all aluminum in the world is made from bauxite mined in this small and very poor country,” he said. At the same time, the shares of the “Rusala” based on the news from Guinea jumped to 66.75 rubles