In the wake of the recent US sanctions package, aluminum, following its earlier climb to prices touching the highest since early February, retreated by as much as 1.1% on Friday. These market movements reflect the immediate impact of geopolitical events on metal prices.
Following the announcement of US sanctions omitting major curbs on Russian industrial metals, aluminum retreated by as much as 1.1%.
On the LME, aluminum experienced a 0.9% slide to $2,178.50 a ton, illustrating the immediate market response to geopolitical events.
While initial expectations of sanctions had fueled optimism in the market, the absence of significant measures refocused attention on underlying market fundamentals. Factors such as demand-side challenges, including macroeconomic conditions in key markets like China and evolving monetary policies, play a pivotal role in shaping price trajectories.
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