The price of aluminum used in automobiles and beverage cans has risen to the level for the first time in 13 years, and soaring prices are likely to become a new source of concern for the global economic recovery.
Aluminum futures, an international indicator, temporarily rose to over $ 2,800 a ton in London's 8th deal, the highest level in 13 years since 2008.
This is because there is widespread belief that the supply of bauxite may be disrupted due to political instability in Guinea, a country that produces bauxite, a raw material for aluminum.
Demand for aluminum is expected to increase in the production of electric vehicles, and there are concerns about production due to power shortages in China, which is a major producer, so the price has continued to rise. ..
Market officials said, "Even if the political instability in Guinea subsides, the balance between supply and demand will not change for the time being, and prices will remain high."
In the commodity market, prices of copper, nickel, natural gas, etc. have also risen, and companies are moving to add the price increase to the retail price of commodities, which is likely to be a new source of concern for the global economic recovery. ..