Business, Financial & Forex news

The week ended with a rise in price of aluminum

Since the beginning of the year, aluminum has increased by 29.47%, surpassing gold, silver and oil

Aluminum broke into the forefront of the rise in price: at the end of the week, this metal, having grown 2.05%, began to cost 29.47% more expensive than at the beginning of this year. Its price is 2191 dollars per ton. This metal has risen in price more than gold and silver – they have increased in price by 10.66% and 2.76% respectively since the beginning of the year. Oil quotes also look modest against aluminum: the barrel of oil WTI has risen in price by 8.58% (to 58.33 dollars) for almost 12 months, and the barrel of Brent crude for the same period – by 14.45%, to 65.03 dollars.

Dollar prices have gone up most metals, which do not belong to the precious metals. Nickel has risen in price since the beginning of the year by 21.06%, lead – by 23.23%, zinc – by 26.77%, copper – by 28.71%. Tin continues to be in the red: this metal costs 7.55% less than at the beginning of the year.

The rise of stock indices in the US, the growth of dollar prices for most metals, as well as the rise in oil prices – is also a result of the weakness of the US monetary unit: the dollar lost 8.68% in 12 months. This year, the US Federal Reserve raised the base rate three times, but this did not reverse the movement of the value of the US dollar back.