The price of aluminum has risen for the third day in a row, according to Friday trade data
MOSCOW (Pakistan Point News / Sputnik - 30th July, 2021) The price of aluminum has risen for the third day in a row, according to Friday trade data.
As of 11:40 GMT, the price of a tonne of aluminum including three-month delivery rose by 1.13% to $2,624.75 at the London Metal Exchange. This is the highest since April 19, 2018, when the price reached $2718 owing to investor concerns caused by US sanctions against Russia's Rusal.
The price of aluminum has been growing for six months.
The trend is thought to be caused by expectations over increasing demand for the metal in car and construction industries following the economy's restoration after the COVID-19 pandemic.