Aluminum Jumps After Australian Ban on Alumina Exports to Russia
Bloomberg
Published Mar 21, 2022 16:40
(Bloomberg) -- Aluminum jumped at the open in London after Rio Tinto (NYSE:RIO) Group moved to halt alumina shipments to Russia, another threat to global supply of the so-called everywhere metal that will also fan global inflation.
See also: Rio in Spotlight After Australia Bans Alumina (OTC:AWCMY) Exports to Russia
The metal rose as much as 4.8% on the London Metal Exchange and was trading up 4.1% at $3,519 a ton as of 9:47 a.m. in Shanghai. Used in everything from cans to window frames, aluminum has risen around 25% this year.
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Written By: Bloomberg
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