Aluminum rose to a 13-year high
Aluminum prices reached a 13-year high on Wednesday, amid political developments in Guinea. on the back of political events in Guinea. Prices began to rise sharply prices on Monday, when they renewed ten-year records. The West African nation of Guinea has a leading in supplying the world market with the raw material used in The West African nation of Guinea leads the world market for the raw material used to make aluminum (bauxite), and has the largest reserves of 20 billion tons. The coup d'état, that took place in the country on Sunday has posed a threat to the global supply - experts estimate that if there are long-term disruptions in supply, it would lead to shortages and, consequently, higher prices for raw materials and aluminum. On the whole, the mentioned metal started getting more expensive since the beginning of the year, having added prices. This was aided by The metal's price has started to go up since the beginning of the year, having risen 34% so far. and also a reduction in supplies from China. The latter factor is related to to the new environmental requirements that have come into force in the country.