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Home / Metal News / LME Aluminium Hit a New High Since 2008 Driven by Military Conflicts between Russia and Ukraine

LME Aluminium Hit a New High Since 2008 Driven by Military Conflicts between Russia and Ukraine

Feb 24, 2022 14:16

Source:SMM

Russia started military operations against Ukraine today at noon, which pushed up aluminium futures prices significantly.

SHANGHAI, Feb 24 (SMM) – Russia started military operations against Ukraine today at noon, which pushed up aluminium futures prices significantly. The SHFE aluminium contract prices once rose by over 1% at noon. As of 13:40, SHFE aluminium went up 0.85% to 23,090 yuan/mt. LME aluminium kept rising by 2% and hit $3,388/mt, a record high since 2008.

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The most-traded SHFE 2204 aluminium contract opened overnight session at 21,800 yuan/mt, with the lowest and highest prices at 21,655 yuan/mt and 21,885 yuan/mt before closing at 21,730 yuan/mt, down 175 yuan/mt and up 0.8% than Monday.

Mar 15, 2022 09:52

SMM Insight

Aluminium Continued to Fall. EU Put New Sanctions on Russia.[SMM Aluminium Morning News]

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Three-month LME lead bottomed out during China’s National Day holiday. LME lead fell to $2,060/mt on September 30 and rebounded to $2,168/mt on October 1. Then the prices fluctuated between $2,130-2,170/mt during the holiday. LME lead closed at $2,136/mt yesterday, down $0.5 or 0.02%. The open interest stood at 109,000 lots.

Oct 8, 2021 12:01

SMM Insight

LME Lead Prices Bottomed out in Holiday, Lead Prices to Fluctuate Lower in Short Term 【SMM post-holiday review】

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Lead futures registered a significant monthly decline by 6.6% in August. As of August 31, the most traded SHFE lead contract closed at 15,025 yuan/mt, a decrease of 1,065 yuan/mt during the month.

Sep 7, 2021 11:35

Analysis

Growing Supply Weighs On Lead Prices in September, Restocking for National Day Holiday About to Start

Steel News Roundup

This is a roundup of news in the steel industry for last week.

Aug 30, 2021 13:30

Industry

Nickel Prices to Stand High amid Supply Shortage in August

Nickel prices fluctuated higher in July and reached a new high at 148,780 yuan/mt since February this year. Nickel futures closed at 146,900 yuan/mt on July 31, up 8,840 yuan/mt or 6.4% from the end of June.

Aug 4, 2021 14:07

Analysis

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The rare earth market was generally stable last week with slight fluctuation in praseodymium and neodymium, terbium, and dysprosium. Separation plants held quotations high, and were less willing to ship good. Inquiries of metal plants and magnetic materials plants was flat, and transactions were scarce amid the overall wait-and-see sentiment.

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Industry

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SMM Comments

Chemical grade silicon price down slightly in early Apr

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SMM Comments

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LME Aluminium Hit a New High Since 2008 Driven by Military Conflicts between Russia and Ukraine

SMM Events & Webinars

2024 SMM Middle East Secondary Metal Field Trip

NET ZERO MEA - Solar & Energy Storage

2025 (20th) SMM Copper Industry Conference and Expo