Sanctions destroyed the aluminum market

This rapid rise in the price of aluminum was last seen in 1988. So, in four days of trading, the silver metal rose by as much as 13 percent. All this is due to the sanctions imposed on the Russian billionaire Oleg Deripaska. The market can cut inventories by as much as 10 percent.

According to experts, in the near future aluminum may reach a record level of prices. It will be difficult to balance the market without the Russian proposal, but sooner or later Rusal will bypass the sanctions.

The reason for the nervousness is obvious. Rusal is the second largest supplier of aluminum in the world economy, providing 10-11 percent of the world's supply of this metal. Rusal operates all over the world and is present in dozens of countries on all continents. Now the problem can have serious consequences, it will also affect the buyers.

Another act of the "aluminum storm", as the current situation begins to take shape, was the increase in the prices of other metal producers. And so the American giant Alcoa got 14 percent thanks to Rusal's troubles.

Experts emphasize that the current problem is all the more significant, because aluminum is becoming more and more popular in the world economy. The metal and its alloys are finding more and more applications, which is why aluminum is one of the most demanded metals.