LIVE FUTURES 06/09: New highs for LME aluminium price on further supply issues, nickel down 1%

September 07, 2021 / www.metalbulletin.com / Article Link

Aluminium's three-month price set a new year-to-date high of $2,775.50 per tonne during early trading on Monday September 6, with political turmoil in Guinea - the world's top bauxite exporter - lending further supply-side support to the metal.

The metal's three-month price was $2,755 per tonne on Monday morning, a 1% rise on the previous Friday's closing price of $2,727 per tonne, with more than double copper's volumes at 6,400 lots traded by 9:30am. Aluminium was up 6.9% from one month before, when it was $2,578 per tonne.
Guinea's military staged a coup on Sunday September 5, claiming to have seized power after ousting long-standing president, Alpha Cond?(C). The coup leaders have declared the country's constitution invalid and closed the West African country's borders.

"The...

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