PRESS ROOM
Aluminium rallies as potential supply tightness looms
Friday 02nd July '21
Aluminium futures have risen sharply in the last week of June as news of a potential export duty in Russia has emerged on aluminium, nickel, copper, and steel. Russia is the world’s second-largest aluminium producer after China and the export duty has raised concerns that Russia might export lower quantities of the metal from August. Aluminium’s futures curve has gone into sharp backwardation between September of this year till 2026 (Source: Bloomberg). This signals potential tightness for a protracted period.