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Aluminum prices are reaching new heights. In question, the recovery of world demand, political instability in Guinea but also the fight against pollution in China.
Aluminum cans, cage caps and window may cost more. In question, the recovery of global demand, but also geopolitical issues. To produce this metal, you need bauxite, a red rock mined in mines, especially in Guinea. The country, which has 13 million inhabitants, holds a quarter of the world’s reserves.
Guinea is however destabilized by a military coup. The army overthrew President Alpha Condé in September. “If Guinea stopped exporting bauxite overnight, the entire aluminum production chain would be called into question”, analysis Philippe Chalmin, specialist in commodity markets. Aluminum now costs $ 3,000 per tonne, an increase of 70% over one year. To fight against pollution, China has also closed coal-fired power stations that supply foundries with energy.
Among our sources:
Philippe Chalmin
Cyrille Mounier
LME (London Metal Exchange) Aluminum
Non-exhaustive list