Aluminum and nickel continued to lead the metals price rally March 1 after monthly average gains of around 7% in February as market players sought clarity on how some Russian banks’ exclusion from the SWIFT international payments system might impact supplies. Russia is a major exporter of both metals. London Metal Exchange three-month .
Ambitious global emission targets Hardly a day goes by without some mention of the energy transition and the need to cut global carbon emissions significantly. The one silver lining to Covid-19 was that it provided a taster of a lower carbon emission environment. The IEA estimates that global CO2 emissions fell by a record 5.8% .
China output could be hit, global demand seen higher: Analysts
Though aluminium prices have dropped from the three-year high witnessed early this month, they are seen rebounding this year as production growth in China is expected to be lower than initial estimates and demand from other parts of the world is likely to increase.
Last month, US ratings agency Fitch Solutions said that it was revising its aluminium price forecast to $2,050 a tonne from $1,850 for this year as “the market is currently tight amidst supply concerns at a time when demand for manufactured goods is recovering strongly”.
According to Dutch multinational financial services firm ING, global demand is set to remain strong leading to widening supply gap. London Metal Exchange aluminium futures ended at $2,434 a tonne during the weekend. The metal prices had hit a three-year high of $2,535 earlier this month before dropping below $2,450. On Monday, the metal quoted $2,961 on Shanghai exchange, down from $3,