Aluminum prices on the London exchange rose as much as 4.8% on Monday (March 21), due to concerns about supply disruptions after Australia banned the export of alumina and aluminum ore to Russia amid sanctions on Russia. with Moscow.

Three-month aluminum futures on the London Metal Exchange (LME) rose 4.5% to $3,533 a tonne, after hitting the highest level since March 10.
The price of aluminum for May delivery in May 2022 on the Shanghai Futures Exchange increased 2.1% to 23,055 CNY (equivalent to 3,624.37 USD)/ton, before that aluminum price reached the highest level since March 8.

Russia accounts for about 6% of the global supply of aluminum, 10% of nickel, and is also a major producer of natural gas used to produce electricity and metals.

Xiao Fu, head of commodity market strategy at Bank of China International, said the market was concerned that the Ukraine conflict could drag on much longer, so they focused their attention on concerns about supply for many items from Russia.
Copper on the LME fell 0.7 percent to $10,260 a tonne, lead rose 0.4 percent to $2,261.5 a tonne, zinc rose 0.6 percent to $3,848 a tonne and tin rose 0.8 % to 42,650 USD/ton.

On the Shanghai Stock Exchange, copper prices rose 0.5% to CNY73,130/ton, lead fell 0.3% to CNY15,185/ton, zinc fell 0.4% to CNY25,300/ton and tin rose 3% to CNY 343,450 CNY/ton. Nickel contract for August delivery fell 1.1% to CNY 205,580/ton. Data from the General Administration of Customs of China showed that the world’s largest aluminum producer and consumer, imported a record amount of aluminum. base metal in 2021 – 3.2 million tonnes – due to Shanghai aluminum prices being higher than international prices for most of 2021.

For the first two months of 2022, China’s aluminum imports fell by 26.2% from a year earlier,
The volume of unwrought aluminum and products – including primary metals and unwrought aluminum alloys in the first two months of the year reached 336,007 tonnes compared with 455,128 tonnes in the same period in 2021.

Futures trading price list of some metals on the Shanghai Exchange (Unit: CNY/ton).