29 AUGUST 2014AlCircle.com
Ukraine tensions affects aluminium and copper
Edited by : AL CIRCLE
1 min read
As tensions rise in Ukraine, both aluminium and copper are feeling the affect on price. Though LME copper prices fell 1.3 percent to close at $6,934, aluminium prices were held back by tightness in near-term supplies. The aluminium for three month delivery has dropped to $2,080, down by 0.3% as people are vary about the Ukraine-Russia friction, where Ukraine is blaming the other about moving in troops to the country.
Aluminium, that is increasingly being used in transport and packing has gained 12% in early July because investors are fearing a deficit, as supply faces cutbacks in production from Chinese manufacturers and there is an increase in demand from the auto and airplane sectors.
Copper prices fell on Thursday, under pressure from escalating tensions in Ukraine and worse-than-expected euro zone economic sentiment, while falls in aluminium prices were kept in check by tightening availability of near-term supplies.
Aluminium, that is increasingly being used in transport and packing has gained 12% in early July because investors are fearing a deficit, as supply faces cutbacks in production from Chinese manufacturers and there is an increase in demand from the auto and airplane sectors.
Copper prices fell on Thursday, under pressure from escalating tensions in Ukraine and worse-than-expected euro zone economic sentiment, while falls in aluminium prices were kept in check by tightening availability of near-term supplies.
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