Nickel and aluminum prices soar

Nickel smelter, Thompson, Manitoba, Canada.

Getty Images - Paul Souders

Text by: RFI Follow

1 min

The rise in prices spares almost no raw material.

Since the economic recovery, the prices of some are soaring even now.

This is the case with industrial metals, especially aluminum and nickel due to increased demand and insufficient production. 

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The price of aluminum reached 3,000 dollars per tonne on the London metals market on Monday, September 13, its highest level since 2008. This surge was fueled by fears of a lack of supplies due to the recent coup in Guinea.

The African country is the world's second largest producer of bauxite, an ore used in the manufacture of this metal.

But what has pushed prices up in recent weeks is above all the reduction in Chinese supply.

China is indeed trying to control its consumption of electricity and has decided to reduce the production of aluminum smelters, which are very energy-intensive.

The price of nickel is also reaching record highs, over $ 20,700 per tonne, the highest since May 2014. Global supply is also insufficient to meet growing demand due in particular to the energy transition.

The latter boosts the needs of this metal used for the manufacture of certain electric batteries.

► Read also: Indonesia is developing an integrated nickel industry, from mine to battery

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  • Raw materials

  • Guinea

  • Economy

  • China

  • Energies