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Aluminum & zinc prices driven by Russia-Ukraine tensions & unchanged US interest rates

27 Jan 2022 15:38 reported by Joy Liu

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Due to the unchanged US interest rates and tensions between Russia and Ukraine, the international aluminum and zinc prices were pushed up yesterday (January 26).

Among them, the aluminum price has risen for two consecutive days, closing at US$3,094/ton, which hit a seven-year high.

The zinc price also surged by US$37.5 to US$3,610/ton, a new high in 13 years. Due to the COVID-19 epidemic in China, transportation was blocked, which led to the late arrival of zinc ingots to the downstream industry. Coupled with a sharp decrease in LME zinc inventories yesterday, down by 2,375 tons to 157,550 tons, the zinc price was driven accordingly.