Aluminum extends gains, hits 13-year peak

2021-09-09 14:23:19 GMT (Economies.com)
Aluminum extends gains, hits 13-year peak

Aluminum prices rose on Thursday, And hit nearly a 13-year peak, as the US dollar fell against most currencies, amid lingering geopolitical tensions in Guinea.

 

Aluminum futures gained 90% during the past 3 months, thanks to the global economic recovery from the pandemic, in addition to a drop in China's supply.

 

Aluminum also drew support after news that an army unit in Guinea had seized power, dissolved the government, constitution, and arrested President Alpha Condé.

 

The dollar index fell against a basket of major currencies by 0.2% to 92.5 points as of 13:38 GMT, after hitting a high of 92.7 points and a low of 92.4 points.

 

Aluminum 3-month futures in the London Metal Exchange rose by 1.5% to $2,838 per ton as of 13:29 GMT.

 
 
 
  Symbol Last Change Chg.%
1.1623
0.0012
0.1012%
1.3768
0.0029
0.2100%
Tadawul
11890.10
44.17
0.37%
24.383
1.069
4.585%
84.461
1.115
1.338%
86.21
0.68
0.80%
1799.550
29.810
1.684%
 
 
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