Aluminum prices fell on February 25, 2022 after surging to record highs in the previous session, but prices were set for a third straight week of gains on fears of supply disruptions as the West imposes a a series of sanctions against Russia.
The European Union’s leaders have imposed new economic sanctions along with the US and other countries taking steps that include: Limiting Russia’s access to technology and blocking market access European finance of these country’s banks.
Russia produces about 6% of the world’s aluminum and accounts for about 7% of the global nickel mine supply.
Russia is also a major producer of gas used to generate electricity, a key component of aluminum production.
Three-month aluminum futures on the London Metal Exchange fell 0.5% to $3,378 a tonne, falling from a record high of $3,480 a tonne reached on February 24, 2022. For the whole week, aluminum prices increased by 3.4%.
On the London bourse, nickel fell 1.6 percent to $24,320 a tonne, after hitting its highest since 2011 in the previous session.
Copper prices traded on the London bourse rose 0.3 percent to $9,895.5 per ton, lead rose 0.5 percent to $2,355 a tonne, zinc fell 1% to $3,605 a tonne and tin rose 0. 5% to 45,420 USD/ton.
The contract for delivery in April 2022 traded on the Shanghai Exchange added 0.1% to 70,960 CNY/ton ($11,233.54)/ton.
On the Shanghai trading floor, aluminum prices fell 0.1% to CNY 22,810/ton, zinc prices increased 0.1% to CNY 24,800/ton, lead prices increased 0.5% to CNY 15,555/ton and tin prices increased 0.5%. up to 338,270 CNY/ton, before that the price of tin reached a record of 344,960 CNY/ton. Nickel prices fell 1.6 percent to 174,880 yuan per tonne after hitting a record 184,650 yuan per tonne.
The London Metals Exchange stands ready to ensure market stability, should sanctions by Western allies impact trading in key Russian-made industrial metals such as aluminum and nickel.Table Futures prices of some metals on the Shanghai Exchange (Unit: CNY/ton).
| Type name | Period | February 25th | Difference from previous transaction | |
| Steel price | Delivered in May 2022 | 4.605 | -99 | |
| Copper price | Delivery in April 2022 | 71.120 | +250 | |
| Zinc price | Delivery in April 2022 | 24.710 | -75 | |
| Nickel price | Delivery in April 2022 | 176.620 | -1.120 | |
| Silver price | Delivered in June 2022 | 4.979 | -70 |
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