Trending: Investing in Bitcoin / 5 reasons to invest in Amazon / Investing in the Metaverse / Juicy Fields scandal
Thursday, August 11, 2022
INVESTOR TIMES
  • Home
  • News
    Bank of England raises interest rates to 1.75%

    Bank of England raises interest rates to 1.75%

    How Pelosi’s trip to Taiwan could impact global markets?

    How Pelosi’s trip to Taiwan could impact global markets?

    Platinum and palladium drop in price on global slowdown

    Platinum and palladium drop in price on global slowdown

    OPEC+ raises oil production target by 100,000 barrels per day

    OPEC+ raises oil production target by 100,000 barrels per day

    G7 proposes to block Russian oil transit

    G7 proposes to block Russian oil transit

    Oil trades higher ahead of key OPEC+ meeting

    Oil trades higher ahead of key OPEC+ meeting

    Oracle joins the wave of layoffs in large companies

    Oracle joins the wave of layoffs in large companies

    Chinese reunification would be a nightmare for the West

    Chinese reunification would be a nightmare for the West

    Gazprom announces “immediate suspension” of gas delivery to Latvia

    Gazprom announces “immediate suspension” of gas delivery to Latvia

  • Markets
    OPEC+ raises oil production target by 100,000 barrels per day

    OPEC+ raises oil production target by 100,000 barrels per day

    G7 proposes to block Russian oil transit

    G7 proposes to block Russian oil transit

    S&P 500: Top 4 sectors to invest in 2022

    S&P 500: Top 4 sectors to invest in 2022

    Janet Yellen: “We are not seeing a recession at this time”

    Janet Yellen: “We are not seeing a recession at this time”

    Inflation in the eurozone was 8.9% in July

    Inflation in the eurozone was 8.9% in July

    U.S. consumer spending rises more than expected

    U.S. consumer spending rises more than expected

    Jerome Powell: “I don’t think the U.S. is currently in recession”

    Jerome Powell: “I don’t think the U.S. is currently in recession”

    Fed to raise interest rates again by 75 basis points

    Fed to raise interest rates again by 75 basis points

    The real estate market seems to be approaching its turning point

    The real estate market seems to be approaching its turning point

  • Investing
    S&P 500: Top 4 sectors to invest in 2022

    S&P 500: Top 4 sectors to invest in 2022

    The price of coal is soaring: By investing in this company, you can benefit from the rise

    The price of coal is soaring: By investing in this company, you can benefit from the rise

    Farmland: Why are the rich investing in it?

    Farmland: Why are the rich investing in it?

    Jefferies anticipates difficulties for Lululemon: there is room to wait

    Jefferies anticipates difficulties for Lululemon: there is room to wait

    Mining companies earned millions in 2021: How to invest in them in 2022?

    Mining companies earned millions in 2021: How to invest in them in 2022?

    A textbook exit scam: the Juicy Fields case in detail

    A textbook exit scam: the Juicy Fields case in detail

    Which are the best dividend paying stocks in the S&P 500?

    Which are the best dividend paying stocks in the S&P 500?

    Who are the Dividend Aristocrats and why should you buy their shares?

    Who are the Dividend Aristocrats and why should you buy their shares?

    Investing in meat and packaged foods can be profitable

    Investing in meat and packaged foods can be profitable

  • Technology
    Spotify’s financial results exceed expectations

    Spotify’s financial results exceed expectations

    General Motors and LG obtain 2.5 billion dollars to develop lithium batteries

    General Motors and LG obtain 2.5 billion dollars to develop lithium batteries

    Blockchain emerging as an alternative to SWIFT

    Blockchain emerging as an alternative to SWIFT

    Wages in the metaverse will be 50% higher, says study

    Wages in the metaverse will be 50% higher, says study

    $100 billion in revenue for China’s telecommunications industry

    $100 billion in revenue for China’s telecommunications industry

    Germany’s Volkswagen to overtake Tesla in sales by 2024, according to Bloomberg

    Germany’s Volkswagen to overtake Tesla in sales by 2024, according to Bloomberg

    BYD displaces Tesla in sales

    BYD displaces Tesla in sales

    Twitter deletes more than 1 million spam accounts per day

    Twitter deletes more than 1 million spam accounts per day

    DeSci: the Web3-based science movement

    DeSci: the Web3-based science movement

  • CryptocurrenciesTRENDING
    UK court finds Craig Wright’s claims “false”

    UK court finds Craig Wright’s claims “false”

    Security flaw allowed hackers to steal nearly $200 million from Nomad

    Security flaw allowed hackers to steal nearly $200 million from Nomad

    Solana opens an exclusive store in New York

    Solana opens an exclusive store in New York

    Bitcoin developer wants currency to have “infinite supply”

    Bitcoin developer wants currency to have “infinite supply”

    Titanium Blockchain CEO Pleads Guilty to Fraud

    Titanium Blockchain CEO Pleads Guilty to Fraud

    Tesla reports $64 million profit from Bitcoin sale

    Tesla reports $64 million profit from Bitcoin sale

    Binance CEO sues Bloomberg for alleged defamation

    Binance CEO sues Bloomberg for alleged defamation

    Crypto winter drags down the price of Rolex watches

    Crypto winter drags down the price of Rolex watches

    Is it possible for China to preserve user privacy with the digital yuan?

    Is it possible for China to preserve user privacy with the digital yuan?

S&P 500 (USA) 
4.247.14  36.90  0.88%  
NASDAQ Composite (USA) 
12.980.56  125.76  0.98%  
Dow Jones (USA) 
33.571.94  262.43  0.79%  
FTSE 100 (United Kingdom) 
7.468.21  38.90  0.52%  
EURO STOXX 50 (Europe) 
3.752,79  3,44  0,00%  
Nikkei 225 
27.819.33  180.63  0.65%  
VIX 
19.96  0.22  1.11%  
Bitcoin (USD) 
24.712.55  682.42  2.84%  
Ethereum (USD) 
1.912.05  82.36  4.50%  
  • Home
  • News
    Bank of England raises interest rates to 1.75%

    Bank of England raises interest rates to 1.75%

    How Pelosi’s trip to Taiwan could impact global markets?

    How Pelosi’s trip to Taiwan could impact global markets?

    Platinum and palladium drop in price on global slowdown

    Platinum and palladium drop in price on global slowdown

    OPEC+ raises oil production target by 100,000 barrels per day

    OPEC+ raises oil production target by 100,000 barrels per day

    G7 proposes to block Russian oil transit

    G7 proposes to block Russian oil transit

    Oil trades higher ahead of key OPEC+ meeting

    Oil trades higher ahead of key OPEC+ meeting

    Oracle joins the wave of layoffs in large companies

    Oracle joins the wave of layoffs in large companies

    Chinese reunification would be a nightmare for the West

    Chinese reunification would be a nightmare for the West

    Gazprom announces “immediate suspension” of gas delivery to Latvia

    Gazprom announces “immediate suspension” of gas delivery to Latvia

  • Markets
    OPEC+ raises oil production target by 100,000 barrels per day

    OPEC+ raises oil production target by 100,000 barrels per day

    G7 proposes to block Russian oil transit

    G7 proposes to block Russian oil transit

    S&P 500: Top 4 sectors to invest in 2022

    S&P 500: Top 4 sectors to invest in 2022

    Janet Yellen: “We are not seeing a recession at this time”

    Janet Yellen: “We are not seeing a recession at this time”

    Inflation in the eurozone was 8.9% in July

    Inflation in the eurozone was 8.9% in July

    U.S. consumer spending rises more than expected

    U.S. consumer spending rises more than expected

    Jerome Powell: “I don’t think the U.S. is currently in recession”

    Jerome Powell: “I don’t think the U.S. is currently in recession”

    Fed to raise interest rates again by 75 basis points

    Fed to raise interest rates again by 75 basis points

    The real estate market seems to be approaching its turning point

    The real estate market seems to be approaching its turning point

  • Investing
    S&P 500: Top 4 sectors to invest in 2022

    S&P 500: Top 4 sectors to invest in 2022

    The price of coal is soaring: By investing in this company, you can benefit from the rise

    The price of coal is soaring: By investing in this company, you can benefit from the rise

    Farmland: Why are the rich investing in it?

    Farmland: Why are the rich investing in it?

    Jefferies anticipates difficulties for Lululemon: there is room to wait

    Jefferies anticipates difficulties for Lululemon: there is room to wait

    Mining companies earned millions in 2021: How to invest in them in 2022?

    Mining companies earned millions in 2021: How to invest in them in 2022?

    A textbook exit scam: the Juicy Fields case in detail

    A textbook exit scam: the Juicy Fields case in detail

    Which are the best dividend paying stocks in the S&P 500?

    Which are the best dividend paying stocks in the S&P 500?

    Who are the Dividend Aristocrats and why should you buy their shares?

    Who are the Dividend Aristocrats and why should you buy their shares?

    Investing in meat and packaged foods can be profitable

    Investing in meat and packaged foods can be profitable

  • Technology
    Spotify’s financial results exceed expectations

    Spotify’s financial results exceed expectations

    General Motors and LG obtain 2.5 billion dollars to develop lithium batteries

    General Motors and LG obtain 2.5 billion dollars to develop lithium batteries

    Blockchain emerging as an alternative to SWIFT

    Blockchain emerging as an alternative to SWIFT

    Wages in the metaverse will be 50% higher, says study

    Wages in the metaverse will be 50% higher, says study

    $100 billion in revenue for China’s telecommunications industry

    $100 billion in revenue for China’s telecommunications industry

    Germany’s Volkswagen to overtake Tesla in sales by 2024, according to Bloomberg

    Germany’s Volkswagen to overtake Tesla in sales by 2024, according to Bloomberg

    BYD displaces Tesla in sales

    BYD displaces Tesla in sales

    Twitter deletes more than 1 million spam accounts per day

    Twitter deletes more than 1 million spam accounts per day

    DeSci: the Web3-based science movement

    DeSci: the Web3-based science movement

  • CryptocurrenciesTRENDING
    UK court finds Craig Wright’s claims “false”

    UK court finds Craig Wright’s claims “false”

    Security flaw allowed hackers to steal nearly $200 million from Nomad

    Security flaw allowed hackers to steal nearly $200 million from Nomad

    Solana opens an exclusive store in New York

    Solana opens an exclusive store in New York

    Bitcoin developer wants currency to have “infinite supply”

    Bitcoin developer wants currency to have “infinite supply”

    Titanium Blockchain CEO Pleads Guilty to Fraud

    Titanium Blockchain CEO Pleads Guilty to Fraud

    Tesla reports $64 million profit from Bitcoin sale

    Tesla reports $64 million profit from Bitcoin sale

    Binance CEO sues Bloomberg for alleged defamation

    Binance CEO sues Bloomberg for alleged defamation

    Crypto winter drags down the price of Rolex watches

    Crypto winter drags down the price of Rolex watches

    Is it possible for China to preserve user privacy with the digital yuan?

    Is it possible for China to preserve user privacy with the digital yuan?

INVESTOR TIMES
Home Markets

Aluminum prices reach historic highs (time to buy?)

INVESTOR TIMES by INVESTOR TIMES
10/25/2021 - 1:19
in Markets
Reading Time: 2 mins read
aluminum price
Share on FacebookShare on TwitterShare on LinkedIn

In the last few days, the value of aluminum soared and the price per ton reached u$s 3,000 on the London Metal Exchange, a figure not reached since 2008, due to production cuts in China and the political situation in Guinea, an important country in the production of this metal used mainly in the construction and transportation industry.

“The price reached this high on Wednesday, September 15, due to the shortage of coal,” comment specialists on the situation of the mineral used as a source of energy.

“Probably the lack of coal in China will increase throughout the 4th quarter, due to the winter and low temperatures. This situation would continue to raise the price of aluminum,” they added.

The Chinese government asked smelters to cut production to reduce electricity consumption, although state infrastructure investment projects are driving demand.

“Political risks are leaning heavily on aluminum from China and also from Europe,” says experts at investment banking and securities firm Goldman Sachs in a report.

They warn that another reason for the aluminum price rise is the value of electricity and also taxes levied on coal in the European Union.

On the other hand, the demand for this metal also increased as consumption rose in the post-pandemic, just as the consumption of other metals and raw materials has done.

In addition, other reasons caused the price of aluminum to rise, such as strikes at a Canadian producer and fires that affected production at a smelter in Jamaica, according to Daniel Briesemann, an expert at the German bank Commerzbank.

aluminum
A year in aluminum prices. Investing.

Guinea is also to blame

The worrying political situation in Guinea, one of the world’s leading producers of bauxite, the key to aluminum production, creates some unrest in the market, however, “production and export performance continues in the same way for the time being and the fear may be overblown,” says Commerzbank.

This activity accounted for about 15 percent of the 2020 Gross Domestic Product (GDP) and about 80 percent of Guinea’s exports, according to a macroeconomic report by the World Bank.

Guinea, a country located in East Africa and home to about 13 million people, has about 7.4 billion tons of bauxite, the U.S. Geological Survey estimates based on data from last year.

This figure represents a quarter of the world’s bauxite reserves.

It reportedly takes more than four tons of bauxite to produce one ton of aluminum, which produces two tons of alumina.

Almost 50 percent of the bauxite imported by China comes from the African country, according to data from the global consulting firm CRU, a figure that has increased due to the decrease in the quantity and quality of its reserves.

After the coup d’état in Guinea, the junta communicated that bauxite production will continue and that the deadlines and commitments agreed with the country’s partners will be respected.

The authors of the coup reported that they will meet during the week with politicians, civilians, and representatives of the country’s mining industry to establish a government project.

Aluminum industry: the problems have just begun

It is practically impossible that the conflicts that the aluminum market is going through, mainly in the supply of essential minerals for its production, and which raised its price to a record high, will be solved in the next few days.

This was communicated by producers and consumers at the largest aluminum assembly in North America, which took place last week.

The price of this metal rose almost 50 percent in 2021 due to the increase in demand, problems in the supply chain, and the shortage of coal in China. This situation increased the concern of producers who use aluminum as the main input, as it is scarce and the price is very high.

According to several players in the aluminum assembly, the problem in the supply chain will remain at least throughout 2022 and will possibly take about 5 years to resolve.

Supply chains around the world, which use containers as a transportation system, are struggling with increased demand and labor disruption caused by the pandemic.

The reasons for the price increase of aluminum are also the lack of workers in aluminum factories and the limited availability of truck drivers for aluminum distribution.

 

Tags: Aluminumaluminum priceguineaInvestments

Related articles

OPEC+ raises oil production target by 100,000 barrels per day
Markets

OPEC+ raises oil production target by 100,000 barrels per day

by Eric Nesich
— August 3, 2022
G7 proposes to block Russian oil transit
Markets

G7 proposes to block Russian oil transit

by Eric Nesich
— August 2, 2022
S&P 500: Top 4 sectors to invest in 2022
Investing

S&P 500: Top 4 sectors to invest in 2022

by Jesús Castillo
— August 1, 2022
Janet Yellen: “We are not seeing a recession at this time”
Markets

Janet Yellen: “We are not seeing a recession at this time”

by Eric Nesich
— July 29, 2022
Inflation in the eurozone was 8.9% in July
Markets

Inflation in the eurozone was 8.9% in July

by Eric Nesich
— July 29, 2022

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

Last published articles

Bank of England raises interest rates to 1.75%
News

Bank of England raises interest rates to 1.75%

by Eric Nesich
— August 4, 2022
How Pelosi’s trip to Taiwan could impact global markets?

How Pelosi’s trip to Taiwan could impact global markets?

by Santiago Contreras
  August 3, 2022

Platinum and palladium drop in price on global slowdown

Platinum and palladium drop in price on global slowdown

by Eric Nesich
  August 3, 2022

OPEC+ raises oil production target by 100,000 barrels per day

OPEC+ raises oil production target by 100,000 barrels per day

by Eric Nesich
  August 3, 2022

UK court finds Craig Wright’s claims “false”

UK court finds Craig Wright’s claims “false”

by Alejandro Gil
  August 2, 2022

Facebook Twitter LinkedIn Telegram RSS

ABOUT INVESTOR TIMES

INVESTOR TIMES is an independent publication of economic, finance and investment content, owned and operated by Altas Ventures.

MORE ABOUT US

  • Our team
  • Work with us
  • Advertise on IT
  • Contact
  • Corporate information
  • Terms of Use
  • Cookies Policy
  • Privacy Policy

INTERNATIONAL EDITIONS

Investor Times in English

Investor Times en Français

Investor Times in Deutsch

Investor Times in Italiano

Investor Times em Português

Investor Times po Polsku

Investor Times на русском языке

El País Financiero (edición en Español)

© ATLAS VENTURES SLU, all rights reserved. Any information contained in INVESTOR TIMES is for educational and/or informational purposes only, it is not financial and/or investment advice. INVESTOR TIMES may obtain economic retribution by recommending services or products of third parties. INVESTOR TIMES does not accept, nor will it accept in the future, subsidies or funds from Governments, political parties or public institutions.

No Result
View All Result
  • Home
  • News
  • Markets
  • Investing
  • Cryptocurrencies
  • Technology

  •  EXCLUSIVE  3 Russian men are the real perpetrators behind Juicy Fields, says Glanse

     NEW  Compound Interest Calculator

     TRENDING 
    Investing in Bitcoin Investing in the Metaverse 5 reasons to invest in Amazon

© ATLAS VENTURES, all rights reserved.