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Business, Economy

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Aluminium, copper prices hit records on Ukraine fallout

Russia and Ukraine on Thursday failed to find a breakthrough on a ceasefire at the first high-level talks between the two sides since Moscow's invasion.
By TRENDS Desk AFP
March 7, 2022 1:50 pm
  • Aluminium reached $4,026.50, the first time the lightweight metal had breached $4,000 per tonne
  • Commodities have been red hot since Russia's assault on its neighbour, with gold on Monday back above $2,000 an ounce

Aluminium and copper prices struck record highs Monday on supply fears linked to Russia’s invasion of Ukraine.

Aluminium reached $4,026.50, the first time the lightweight metal had breached $4,000 per tonne. Copper’s new record stood at $10,845 per tonne.

Commodities have been red hot since Russia’s assault on its neighbour, with gold on Monday back above $2,000 an ounce thanks to the metal’s status as a haven investment.

Also on Monday, nickel prices rocketed by more than 25 percent and oil prices soared close to $140 a barrel, reaching the highest levels in nearly 14 years.

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